- BASF (OTCQX:BASFY) Gazprom (OTCPK:OGZPY) have agreed to complete an asset-swap deal signed in December 2013 but called off late last year following Russia's annexation of the Crimea region.
- As previously planned, BASF will exit the gas-trading and -storage business of its subsidiary Wintershall and will further expand its production of oil and gas.
- Gazprom will acquire BASF's natural-gas trading business and will also get a 50% share in BASF’s North Sea oil exploration and production unit.
- The swap was already approved by the European Commission at the beginning of December 2013.