Install

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

. Last Updated: 07/27/2016

TNK Says No to Gazprom

TNK-BP chief executive Viktor Vekselberg said the company would proceed with a sale of a huge Kovykta gas field despite a proposal to jointly manage the deposit with Gazprom.

Natural Resources and Environment Minister Yury Trutnev said TNK-BP might keep its license to develop Kovykta, with enough gas to meet world demand for eight months, should the company agree to develop the project with state-run Gazprom.

But on Tuesday, TNK-BP billionaire director Viktor Vekselberg said the company would pursue its goal to sell the field, as had been agreed with Gazprom in 2007. 

(Reuters)