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BASF, Gazprom renew asset-swap plan

2015-09-04 09:44:14| Chemicals - Topix.net

Germany's BASF SE and Russia's OAO Gazprom on Friday agreed to complete an asset-swap deal signed in December 2013 but called-off late last year amid mounting political tensions between Russia and the West. As previously planned, BASF, the world's largest chemical company by revenue, will exit the gas trading and storage business of its wholly owned oil and gas subsidiary, Wintershall AG, and will further expand its production of oil and gas.

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