BASF, Gazprom Swapping Assets

Reuters reported that BASF and Gazprom are trading assets, in which Gazprom will get more access to Siberian gas fields. This marks Gazprom’s latest move to spread out through the European market.

As quoted in the market report:

Gazprom, for its part, has long been seeking better access to nearby downstream European markets where margins are still lucrative, even if pipeline gas from origins such as Russia has come under margin pressure as a result of cheap new shale gas output from North America.

To view the whole Reuters report, click here.