Reorientating of German Gas Company — Independent of Moscow (II)

Newsletter 2015/06/09 – Independent of Moscow (II)

KASSEL/BERLIN (Own report) – Wintershall, the giant German gas
company, has begun reorienting the focus of its expansion drive
westward. This subsidiary of the mega chemical company, BASF, had set
high hopes on having direct access to Russia’s enormous gas deposits –
the largest in the world – which would have brought it to within reach
of the summit of the world’s natural gas sector. This perspective was
obliterated by the escalation of tensions between Moscow and the West.
An additional impetus for the necessary search for an alternative is
provided by the fact that German gas imports from the Netherlands are
on the verge of being shut down. Beginning 2020, The Hague intends to
drastically reduce gas production from the country’s largest gas
field, because draining the deposit would heighten dangers of
earthquakes. Wintershall is particularly expanding its activities in
Norway and has already begun shale gas production in Argentina, where
the world’s second largest shale gas deposits are estimated to be
found. Wintershall’s orientation shift also reduces its interest in
business with Russia, while reinforcing its transatlantic interest.


By piotrbein