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BP and Gazprom delay Kovykta deal



By Upstream staff 

Russian gas giant Gazprom, UK supermajor BP and its Russian venture TNK-BP will not have time to close the Kovykta deal in December amid talks over a broader range of issues, Gazprom said today.

"BP's chief executive (Tony Hayward) flew to Moscow today and we held talks about a very broad number of co-operation issues. As to the Kovykta deal, we won't be able to close it on time," Gazprom's spokesman Sergei Kupriyanov told Reuters.

The meeting between Hayward and Gazprom' boss Alexei Miller is the second in November and the fourth over the past six months.

Industry sources have said contacts between the two bosses have intensified as a lock-up period on TNK-BP's shareholders is due to expire at the end of this year and Gazprom may want to buy 50% in the company from the Russian shareholders.


Thursday, 29 November, 2007, 13:29 GMT  | last updated: Thursday, 29 November, 2007, 13:29 GMT

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