Posted by: russiaoilandgas | July 30, 2007

TNK-BP Plan to Hand Gazprom Assets in Return for Piece Of Baltic LNG Project

TNK BP Gazprom Baltic LNG Liquified Natural GasWithin a week of BP announcing it was seeking more joint ventures in Russia in order to deliver long term growth, the Moscow Times has reported that the British energy giant’s Russian vehicle, TNK-BP, is hoping to gain access to Gazprom’s assets in return for selling Gazprom some of it’s own.

Although TNK-BP CEO, Robert Dudley, told the Moscow Times that TNK-BP and Gazprom have not yet presented each other with asset swap proposals for the new $3 billion project the companies plan to set up to liquefy gas on the Baltic Sea, he told the Moscow daily that TNK-BP will offer Gazprom Rospan International, TNK-BP’s only gas project after the sale of Kovykta.

TNK-BP plans to sell Buguruslanneft, one of its oldest assets in the Orenburg region, Dudley told the Moscow Times, although Marina Dracheva was admitted in the same paper that no price had yet been set.

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