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Kvoykta deal 'at risk'



By Upstream staff 

Gazprom's deal to buy control in the giant Kovykta gas field is at risk as the company cannot agree with the current owner TNK-BP on historical costs, a source close to Gazprom said.

"It has been a systematic problem. If it goes on like this the deal scenario will change," the source told Reuters.

"By the way, we were supposed to sign the deal before 1 December, so the agreement has de facto expired. And no new deal has been reached."

Under the deal Gazprom was to buy control in Kovykta from TNK-BP , half owned by oil major BP , and then sell 25% back to the company as part of a broader strategic pact.


Monday, 17 December, 2007, 15:12 GMT  | last updated: Monday, 17 December, 2007, 15:12 GMT

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