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Gazprom sells its stake in German gas network Gascade

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Gazprom sells its stake in German gas network Gascade

Gazprom, a Russian oil giant, considers selling its stake in Gascade, the German network of gas pipelines - the asset that it has been establishing jointly with a German partner BASF/Wintershall over the past two decades.

As Interfax was told by its sources in the industry, the top management of Gazprom has already taken a decision in principle regarding the sale. The deal is scheduled to be stroke in 2017. Meanwhile, the industry’s sources confirmed to Interfax the presence of a large number of potential bidders for this asset.

In the years between 2012 and 2015, Gazprom made a deal to exchange assets with BASF/Wintershall, having received from the German partner a stake in Wingas, WIEH, WIEE distributive partnerships, as well as a stake in Astora joint venture for gas storage.

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