"E.ON and Gazprom signed a basic agreement on the exchange of assets in the sectors of gas production as well as gas sales and trading and power. E.ON is acquiring a stake of 25% minus one share in the Siberian gas field Yuzhno Russkoye," E.ON said. In exchange for the stake in the field, Gazprom is receiving minority interests of 50% minus one share in Hungarian gas companies E.ON Foldgaz Storage and E.ON Foldgaz Trade, a stake of 25% plus one share in the regional power and gas supplier E.ON Hungaria and a compensation still to be quantified. In addition, E.ON and Gazprom have agreed to work together on specific gas-fired power station projects in Europe. E.ON and Gazprom intend to conclude a detailed agreement on the exchange of assets by the end of the year. The envisaged Gazprom shareholdings in Hungary are subject to approval by the EU Commission and Hungarian authorities, the statement noted.