Russia warns BP it may lose Siberian gas licence

Russian joint venture TNK-BP, which is 50 per cent owned by BP, has been told it is in violation of its agreement to develop Kovykta, its vast east Siberian gasfield.
The move is the latest sign of Russia’s tightening grip on its energy resources.

The natural resources ministry gave TNK-BP three months to fix the violations or risk losing its licence.

TNK-BP declined to comment.
Gazprom has long been eyeing a stake in Kovykta. TNK-BP has made clear it would welcome Gazprom as a partner and offered it a majority stake in the project. But talks over Gazprom’s participation appear to have reached deadlock.

Alexander Medvedev, Gazprom’s deputy chief executive, said last month that a TNK-BP statement that it could reach a deal with the state-controlled company in the first half of the year was “over-optimistic”. TNK-BP no longer expects an imminent resolution.

The growing pressure over Kovykta is seen by many as part of a broader state plan to gain control of TNK-BP itself.

The Australian