BP sells Russian gas field stake to Gazprom

LONDON (Reuters) — BP Plc said on Friday its Russian joint venture TNK-BP had agreed to sell Gazprom its 62.9 per cent stake in Rusia Petroleum, the company which holds the licence for the Kovykta gas field in East Siberia.

TNK-BP will also sell its 50 percent interest in East Siberian Gas Company, the company constructing the regional gasification project, BP (Charts) said in a statement.


BP, which competes globally with Exxon Mobil (Charts, Fortune 500) and Chevron (Charts, Fortune 500), also said it and TNK-BP had signed a memorandum of understanding to create a strategic alliance with the Russian gas giant, Gazprom, to invest jointly in major long-term energy projects or swap assets around the world.

Reuters