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TNK-BP Invests More in Gas

TNK-BP will triple investment in a natural gas development next year as it gains transit capacity.

TNK-BP plans to spend $250 million tapping the Achim layer at its Rospan International unit's Urengoi field next year after spending $66 million there this year, the company said Tuesday.

TNK-BP said last year that it plans to increase Rospan's production fivefold to more than 16 billion cubic meters a year after agreeing on space in the pipeline network, which belongs to Gazprom. Rospan sold 1.6 bcm of gas in the first half of this year, according to a July 26 presentation by TNK- BP.

(Bloomberg)

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