German upstream oil and gas company Wintershall AG's Chief Executive Rainer Seele said Thursday the company is in talks with Gazprom OAO (GAZP.RS) over possible joint gas projects on the Yamal Peninsula.
German upstream oil and gas company Wintershall AG's Chief Executive
Rainer Seele said Thursday the company is in talks with Gazprom OAO (GAZP.RS)
over possible joint gas projects on the
Yamal
Peninsula
.
"There's no doubt that [the reserves on] Yamal bear great potential for
the supply of
Europe
," Seele told reporters
at Winterhall's annual press conference.
He added, however, that the exploration of the
Yamal
Peninsula
for
gas production would likely take a long time due to the lack of necessary
infrastructure.
Seele said that the talks between his company and Gazprom on Yamal are at
"a very early stage".
He added that Wintershall's focus is firmly set on existing joint projects with
Gazprom.
Wintershall has a 35% economic interest in Gazprom's giant Yuzhno Russkoye gas
field in western
Siberia
. The companies are also
jointly developing the Achimgaz project in western
Siberia
.
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