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. Last Updated: 07/27/2016

TNK-BP Eyes Gazprom as Partner

TNK-BP, wants to set up a company with Gazprom to develop oil and gas deposits in eastern Siberia, Interfax quoted a TNK-BP director as saying Wednesday.

TNK-BP wants to develop the huge Kovykta gas field in eastern Siberia but cannot do so because Gazprom has not agreed to build the pipeline needed to take gas to China.

Interfax quoted TNK-BP's development director, Nick Pogson, as saying that TNK-BP could put up its stake in Rusia Petroleum, which has the Kovykta license, while Gazprom could contribute the Chayanda deposit if it won the auction to develop it.

Kovykta has reserves of 2 trillion cubic meters of gas, which represents four-fifths of annual global gas consumption. Chayanda has reserves of 1.24 trillion cubic meters of gas and 50 million tons of oil.