Home News BASF wants independence from VNG – Lepizig People’s Daily

BASF wants independence from VNG – Lepizig People’s Daily


LEIPZIG (Dow Jones) – Chemicals group BASF aims at the dedication Eastern German gas distributor Verbundnetz Gas (VNG) to hold. "BASF is Wintershall do about everything, so that the VNG successfully continue developed, "said BASF Chief Executive Juergen Hambrecht, the Leipziger People’s Daily "(Monday edition)." Including a balanced Shareholder structure, "it quoted the news agency ddp further from the newspaper.

BASF is through its subsidiary Wintershall with almost 16% of VNG involved. The Russian partner Gazprom, BASF had recently announced it will increase its stake in VNG to. Together they would then a blocking minority. Several East German municipalities Together with more than 25% are involved. Thus, both could Thwart efforts of the energy group EnBW, to get on with 48% and The Leipzig-based company then a consortium of wants to bind the company, the newspaper said.

The VNG is an important investment for us, "said Hambrecht. "Therefore we are interested in the development of relations and want to do everything to make it in the future to be successful. Our Stake in VNG we see as a very important partnership. "

Hambrecht also said that he, the energy division of the Strengthen chemicals group, together with Russia’s Gazprom wants. "We are always interested in new things to tackle with Gazprom, and since is also a lot to us, "said Hambrecht. For him, it was particularly interesting, the joint promotion activities expand with the Russian group.