Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Kovykta Deal Seen This Month

Gazprom may close a deal to buy the Kovykta natural gas field in the Irkutsk region from TNK-BP this month, Governor Alexander Tishanin said, Interfax reported Monday.

The talks between Gazprom and BP's Russian venture are in the final stages, said Alexei Sobol, head of East Siberia Gas, the news agency reported. Gazprom plans to buy TNK-BP's 50 percent stake in East Siberia Gas, the regional gas-pipeline developer.

"Perhaps not all of the corporate procedures will be completed, because that will take a certain amount of time, but as far as I know, the agreement is on the verge of completion," Sobol said, Interfax reported.

The gas export monopoly may obtain from TNK-BP 62.9% of Rusia Petroleum, which holds the license for the Kovykta field, Interfax said.

TNK-BP, half-owned by BP and half by billionaires Mikhail Fridman, Viktor Vekselberg and Leonard Blavatnik, agreed to sell its stake under pressure from state environmental authorities.

n TNK-BP plans to spend $150 million on building a network of 50 filling stations under the BP brand in northwestern Russia, chief operating officer Tim Summers said Monday.

Three new gasoline stations will be opened by the end of this year, Summers told reporters in St. Petersburg after the company opened its first such facility there. TNK-BP currently operates three gas stations in St. Petersburg.

Bloomberg, MT