02.16.07, 11:18 AM ET
LONDON (AFX) – Russia’s ambassador to the UK has refused to rule out the possibility that energy giant BP PLC could have its stake in the major TNK-BP joint venture reduced to make way for Russian gas monopoly OAO Gazprom.
Russian ambassador Yuri Fedatov told reporters today that BP and Gazprom were in the process of striking a deal, but would not rule out BP’s 50 pct stake being reduced.
‘I know that they’re in the process of finding a deal that would be suitable to BP and Gazprom,’ Fedatov said. ‘They’re discussing different options and figures and I would not want to pre-empt that. It’s a commercial matter between two companies which I hope will be resolved in a satisfactory manner.’