BASF CEO Sees Completing of Asset Swap with Gazprom by Year-End

Reuters

LUDWIGSHAFEN, Germany, Dec 4 (Reuters) – The chief executive of German chemicals and oil group BASF said he expected a major asset swap deal with Russia's Gazprom to be completed by the end of the year.

"We are going to achieve this by the end of the year," CEO Kurt Bock said at a press conference on the occasion of the group's 150th anniversary.

BASF previously said the deal for Gazprom to take over BASF's German gas trading and storage in return for BASF gaining more access to Gazprom's Siberian gas fields was on course for completion in autumn with only some technicalities in the way.

(Reporting by Ludwig Burger; Editing by Maria Sheahan)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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