RT: Gazprom eyes Latin American bonanza

The world’s largest producer of natural gas continues to pick up assets in Latin America and the next may be a joint venture with Germany’s largest crude oil producer.

Gazprom, which has shunned the shale gas revolution in favor of controlling the liquefied natural gas market, will now further expand south, Kommersant reports, citing sources close to Russia’s gas major.

German-based Wintershall and Gazprom will swap two development blocks in the North Sea in exchange for three marketing joint ventures in Venezuela, according to the Kommersant source. The three ventures within Wintershall are Wingas, WIEH, and WIEE, and the transaction is expected to take place before the end of the year.  MORE