BP has started negotiations for participation in Nord Stream construction

BP has started official negotiations with Gazprom for participation in Nord Stream's construction of a branch to Great Britain, the chief of Russian Business of BP D. Peattie. The construction of a 600-mile branch can be completed by 2016. BP can spend into a shareholding in the pipeline operator $300 million. Now Gazprom holds 51% in Nord Stream, and the rest is divided between E.ON, Wintershall, GDF Suez of France and Gasunie, and 2 branches are launched. They do not report on how BP can become co-owner of Nord Stream.

The chief of Gazprom A. Miller claimed on worthwhileness of the pipeline construction in Great Britain at the end of June 2012. He also told about the interest of BP to the project. Soon business mass-media wrote that the Russian shareholders of BP-TNK, the company BP holds on par with AAR, were going to intervene to BP participation in Nord Stream construction. BP was to get agreement of its partners as the shareholders agreement binds the JV co-owners to agree on cooperation in Russia or the Ukraine via BP-TNK. On July 3 mass-media wrote that BP-TNK sent to Gazprom, BP and Nord Stream the letter in which it announced on its intention to analyze participation in Nord Stream construction. On November 22 BP closed the agreement on sales of its shareholding in BP-TNK to Rosneft, that opens to BP the way to participation in the pipeline construction.

Translated by Nadezhda Poltoratskaya

Source:  http://www.angi.ru/news.shtml?oid=2795206

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