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UPDATE 2-Gazprom disappointed by Kovykta, LNG seen early '09

Wed Apr 23, 2008 10:53pm IST
 
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(Changes headline to include LNG, adds quotes, background)

By Amie Ferris-Rotman

MOSCOW, April 23 (Reuters) - Russia's Gazprom (GAZP.MM: Quote, Profile, Research) said on Wednesday it was "a bit disappointed" by protracted talks with BP's (BP.L: Quote, Profile, Research) Russian venture, TNK-BP TNBPI.RTS, about acquiring control of the giant Siberian Kovykta gas field.

"The ministry of resources can call the licence back if conditions are not executed. The ball is not in our court," Gazprom Deputy Chief Executive Alexander Medvedev told a news briefing.

"We are, frankly speaking, a little bit disappointed."

TNK-BP, Gazprom and BP are involved in talks over the creation of a joint venture on the basis of the Kovykta gas field, which belongs to TNK-BP, but which Gazprom agreed to buy last summer after months of state pressure on TNK-BP.

TNK-BP CEO Robert Dudley said earlier this month that both he and Gazprom were hopeful the deal would be closed by the end of April. On Wednesday, Medvedev was less enthusiastic.

"TNK-BP knows what kind of additional information should be delivered and that the deal should be closed," he said.

"We can't wait forever. They (the ministry) have all the rights to call back the licence from the owner," said Medvedev, who is also director of Gazprom Export.  Continued...

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