DGAP-Adhoc

BASF SE: BASF and Gazprom agree to complete asset swap

BASF SE / Key word(s): Disposal/Joint Venture

04.09.2015 06:47

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BASF and Gazprom agree to complete asset swap

- BASF subsidiary Wintershall to focus on oil and gas exploration and
production and exit gas trading business

- Completion of transaction expected by the end of 2015

BASF and Gazprom have agreed to complete the swap of assets with equivalent
value signed in December 2013 and originally intended to be completed by
the end of 2014. With the swap, BASF will further expand its production of
oil and gas and will exit the gas trading and storage business. The
completion of the asset swap is expected by the end of 2015 and, as agreed
upon in December 2013, will be financially retroactive to April 1, 2013.
The swap was already approved by the European Commission at the beginning
of December 2013.

Through the transaction, Wintershall, a 100% subsidiary of BASF, receives
the economic equivalent of 25% plus one share of the blocks IV and V in the
Achimov formation of the Urengoy natural gas and condensate field in
western Siberia. The two blocks will be jointly developed by Gazprom and
Wintershall. According to the development plan confirmed by the Russian
mining authority, blocks IV and V have total hydrocarbon resources of 274
billion cubic meters of natural gas and 74 million metric tons of
condensate. This is equivalent to a total of 2.4 billion barrels of oil
equivalent (boe). An annual plateau production of at least 8 billion cubic
meters of natural gas is expected from the two blocks. Production is
planned to start in 2018.

In return, Wintershall will transfer its share in the currently jointly
operated natural gas trading and storage business to its long-term partner
Gazprom. This includes the 50% participation in the gas trading companies
WINGAS, WIEH (Wintershall Erdgas Handelshaus Berlin) and WIEE (Wintershall
Erdgas Handelshaus Zug) including shares in astora, which operates the
natural gas storage facilities in Rehden and Jemgum, Germany, as well as a
share in the natural gas storage in Haidach, Austria. Gazprom will also
receive a 50% share in the activities of Wintershall Noordzee B.V., which
is active in the exploration and production of oil and gas in the southern
North Sea (Netherlands, UK and Denmark). Together these activities
contributed about EUR12.2 billion to sales and around EUR260 million to
EBITDA of BASF Group in 2014 and about EUR7.2 billion to sales and around
EUR240 million to EBITDA of BASF Group in the first half of 2015. The
partnership in the area of gas transportation activities will continue.

Contact:
Dr. Stefanie Wettberg
[phone]
[e-mail]

Jennifer Moore-Braun
[phone]
[e-mail]


04.09.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: BASF SE
Carl-Bosch-Straße 38
67056 Ludwigshafen
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.basf.com
ISIN: DE000BASF111, DE000A0JRFB0, Börse Dublin, Frankfurter
Wertpapierbörse, DE000A0JRFA2, Börse Dublin, Frankfurter
Wertpapierbörse, DE000A0JQF26, Börse Dublin, Frankfurter
Wertpapierbörse, DE000A0EUB86, Frankfurter Wertpapierbörse,
DE0008846718, Frankfurter Wertpapierbörse, DE000A0XFK16,
Börse Luxemburg, Frankfurter Wertpapierbörse, XS0420401779,
Börse Luxemburg, XS0412154378, Börse Luxemburg, Frankfurter
Börse, DE000A0T4DU7,Börse Luxemburg, Frankfurter Börse,
CH0039943292, Swiss Exchange (SWX), CH0039943383, Swiss
Exchange (SWX), DE000A0TKBM, Börse Luxemburg, Frankfurter
Börse, XS0414672070, Börse Luxemburg, ,
WKN: BASF11, WKN A0JRFB, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JRFA, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JQF2, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0EUB8, Frankfurter Wertpapierbörse, , WKN 884671, Frankfurter Wertpapierbörse, , WKN A0XFK1, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0XFHJ, Börse Luxemburg, , WKN A0T6EG, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0T4DU, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN 3994329, Swiss Exchange (SWX), , WKN 3994338, Swiss Exchange (SWX), , WKN A0TKBM, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0T65R, Börse Luxemburg,
Indices: DAX, EURO STOXX 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Hanover, Munich, Stuttgart; Terminbörse
EUREX; London, SIX

End of Announcement DGAP News-Service

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