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Gazprom in talks with BP over possible gas trading joint venture
AFP
MOSCOW
Petroleumworld.com 11 23 06
British oil giant BP and Russian gas monopoly Gazprom are considering forging alliances in certain oil and gas projects, including possible joint ventures in the gas trading business, Gazprom said on Wednesday.
Gazprom chairman Alexey Miller and BP chief executive John Browne met at the Russian group's headquarters in Moscow on Wednesday.
"The parties addressed issues (relating to) bilateral cooperation, focusing on potential implementation of prominent joint projects and interaction in the liquefied natural gas trading business," Gazprom said in a statement.
The pair will hold another meeting in the first quarter of 2007, it said.
The meeting took place amid persistent speculations that Gazprom is keen to take a stake in BP's 50-percent-owned joint venture TNK-BP.
The remaining 50 percent is owned by a Russian consortium led by Alfa Group and Access-Renova.
TNK and BP, however, are barred from taking in new investors until a lock-up provision expires next year.
BP in September signed a liquefied natural gas (LNG) supply agreement with Gazprom.
Under the deal, BP will deliver LNG cargoes to Gazprom until early 2007.
Gazprom, in turn, will market the LNG in the Atlantic Basin.
AFP 22 1904 GMT 11 06
Copyright© 2006 AFP. All Rights Reserved.
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