Gazprom and BASF follow through with cash free swap
BASF and Russian Gazprom plan to swap upstream assets in Russia for downstream assets in Europe
German chemicals giant BASF and Russian gas monopoly Gazprom are to complete their planned swap of upstream assets in Russia for downstream assets in Europe. The two agreed the cash-free deal in December 2013 but abandoned it late last year shortly before it was due for completion, with BASF chief executive Kurt Bock citing political difficulties. For example, western governments had earlier in the year applied sanctions on Russian individuals and companies – although not Gazprom – in retaliation for the secession of Crimea from Ukraine and the subsequent war in eastern Ukraine which they blamed on Moscow-backed intervention. And Gazprom was being investigated by the European Commission over
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
