Transcript of the beginning of the meeting:
Vladimir Putin: Mr Hambrecht, Mr Voscherau, ladies and gentlemen,
I am delighted to see you in Moscow. Your company is well known in Russia. The company began working in Russia in 1874, if I am not mistaken. There were long breaks in our partnership for obvious reasons, but now BASF is very active in Russia and is one of the most serious investors in its economy. I daresay it is one of our principal investors.
You work with Gazprom, LUKoil and other leading Russian companies, and take part in major projects in the regions. The quality of BASF's cooperation with its Russian partners is excellent, up to asset exchanges, and I consider it very important.
You are involved in Nord Stream, and I am glad to see that you find it expedient to participate in South Stream, as well. I am also glad to note that the German leadership supports your participation in South Stream – I mean, among others, this is the stance of German Chancellor Angela Merkel.
Juergen Hambrecht (as translated): Mr Prime Minister, I would like to begin with an expression of heartfelt gratitude for the opportunity to meet with you tonight. We have every reason to celebrate: we are joining the South Stream project. I had enough time to think it all over in the plane today, and I counted our past, present and future investments in Russia and other European countries – and I saw that the figure approached 20 billion euros.
BASF partnership with Gazprom is highly specific not only due to our personal contacts, though they also matter, but also due to our cooperation at every stage – we cooperate in natural gas exploration, mining, transportation and distribution in Russia and Germany alike.
We have a good partnership, which rests on mutual respect. It is also important that both parties are doing all they can for the project, and that they dedicate their best facilities and personnel to it. That is why I am especially pleased today to sign the documents for this project. This is only the beginning – a memorandum of understanding.
Now is the time to work diligently and quickly to sign the relevant detailed agreements. But then, we always work at a good pace, and I have the highest expectations.
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Gazprom and BASF signed a memorandum of understanding on the South Stream project in the presence of Prime Minister Vladimir Putin.
After the signing ceremony, Mr Putin said to those in attendance:
"I would like to congratulate the participants of today's event. This is a significant event in light of what is happening in international energy markets. It is a sign of stability. I wish success to everyone involved in the project. Thank you."