icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Gazprom poised to snap up Siberian gas field

Gazprom is well on its way to taking over the huge Kovykta gas field in Siberia. The deal is part of a strategic agreement between Gazprom, Britain’s BP and TNK-BP signed in June 2007.

The current licence holder, TNK-BP, expects the sale to be completed by the end of April.

The deadline for the Kovykta deal was put back several times for technical reasons.

TNK-BP's management made it clear on Thursday that none of its shareholders were in talks to sell out the company – a joint Russo-British venture.

The field’s reserves are estimated at 2 trillion cubic metres of natural gas, 2.3 billion cubic metres of helium and 115 million metric tons of gas condensate.

Meanwhile, Gazprom has announced it is issuing a 1.5 billion dollar Eurobond to finance the company’s development and the restructuring of its short-term debt.