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Gazprom set to take Kovykta keys

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Upstreamonline: Gazprom set to take Kovykta keys

Wire services

Gazprom boss Alexei Miller said today he expected to close a long-delayed deal to buy the giant Kovykta gas field from BP’s Russian oil venture, TNK-BP, by the end of this month, local media reported.

“We will close in the near future,” Miller was quoted as saying by the RIA news agency when asked about the deal while on a visit to Libya with President Vladimir Putin, a Reuters report said.

Under the complicated deal, Gazprom would buy TNK-BP’s Kovykta field in East Siberia while TNK-BP could be invited back to take part in the field as part of a wider agreement on co-operation.

TNK-BP agreed to sell the field, which has enough reserves to supply the world with gas for almost a year, after Gazprom blocked the company’s plans to use the reserves for gas exports to China.
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17 April 2008 07:27 GMT  | last updated: 17 April 2008 07:36 GMT

http://www.upstreamonline.com/live/article152563.ece

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