RIA Novosti: Gazprom to Acquire Largest Gas Storage Facility in Western Europe: Reports

Russia will acquire Europe's largest underground gas storage facility this fall under the framework of an agreement reached between Gazprom and the German chemical company BASF, Germany's Deutsche Welle reported Wednesday.

The gas storage facility that will be under Russian ownership is located in the small German town of Rehden, Lower Saxony.

Under the agreement, the German side will take part in the development of a large gas field in Siberia.

The agreement between Gazprom and BASF was made in December and immediately approved by the European Commission.
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