“BASF and Gazprom have to be patient“
Frankfurter Allgemeine Zeitung
It will still take some years before the investors in the world’s largest chemical company, Germany’s BASF, can expect profits from a deal concluded with Russian Gazprom in 2015, writes Bernd Freytag in Frankfurter Allgemeine Zeitung. In an asset swap, BASF had left its subsidiary Wingas’ gas trading business to Gazprom in exchange for gas production licenses in Siberia. However, the exploitation of these gas fields is delayed due to uncertainties caused by lower gas prices and US shale gas exports, writes Freytag.
For background, read the CLEW dossier The Energiewende and its implications for international security and the CLEW factsheet Germany’s dependence on imported fossil fuels.
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