ST PETERSBURG, Russia, Sept 7 (Reuters) - Alexander Medvedev, Deputy Chief Executive Officer of Russia’s top gas producer Gazprom, said on Monday that its asset swap deal with Germany’s BASF had been revived thanks to the Nord Stream-2 pipeline project.
Gazprom and BASF said last week they had agreed to revive a deal that collapsed in late 2014 under which Gazprom would get greater access to gas trading and storage in Germany.
The Russian firm and its European partners, including BASF, also signed a shareholders’ agreement on Nord Stream-2 under which the capacity of the planned pipeline beneath the Baltic Sea to Europe will double.
“This is not a return, this is a completion of the deal... Implementation of Nord Stream-2 is part of this thinking,” Medvedev told reporters.
“Europe needs gas and needs Russian gas and one can’t do without it,” he added. (Reporting by Vladimir Soldatkin; Editing by Maria Kiselyova and Jason Bush)