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BASF and Gazprom agree on asset swap; BASF’s Wintershall expanding production of oil and gas, exiting gas trading and storage business

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BASF and Russia’s Gazprom signed a legally binding basic agreement to swap assets of equivalent value. An additional payment of up to US$100 million will be paid contingent on the successful future development of the Vega field. Gazprom will also receive a 50% share in the activities of Wintershall Noordzee B.V.,

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