Austria’s oil company and Russia’s Gazprom reached strategic agreement on asset swap, according to which Gazprom will obtain 38.5% Norwegian assets of OMV in exchange for 24.98% of the fourth and fifth areas of Achimov deposits of Urengoiskoe field, Finance.ua reports, quoting Nachrichten.at.

According to the agreement, OMV will obtain 24.98% of the shareholding in the project for development of 4A and 5A areas of Achimov deposits of Urengoiskoe deposit of Gazprom in exchange for 38.5% in OMV AS, which deals with geological exploration and extraction in Norway.

The corporation signed the relevant statement in Vienna, December 14.

The edition reports that the agreement will enter into force on January 1, 2017, but signing final documents is expected in mid-2017.

“CEO of Gazprom OJSC Alexei Miller and CEO of OMV AG Rainer Seele signed the framework agreement on asset swap. The ceremony was held in presence of Federal Minister of Finance of Austria Hans Jörg Schelling and Deputy Minister of Energy of Russia Anatoly Yanovsky”, according to Gazprom’s press-office.

“The framework agreement determines the share in assets, which Gazprom will obtain as the part of exchange with OMW, and contains some other commercial terms and has the legally binding nature. In fact, currently, the new parameters of the transaction have been determined. We plan to get approved and signed the final documents on asset swap until mid-2017”, CEO of Gazprom Alexei Miller.

It should be reminded that recently EU deputies encouraged EU Commission to reduce dependence of member countries on gas in the long-term and not to permit construction of the Nord Stream-2 pipeline.