TNK Says No to Gazprom

May 5, 2010

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)

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