BP backs Russia-Baltic gas pipeline
* BP calls on Russia to limit protectionism
* BP says Nord Stream important for Europe
* Hayward addresses Russia's top economic forum
By Dmitry Zhdannikov and Vladimir Soldatkin
ST PETERSBURG, Russia, June 4 (Reuters) - Oil major BP Plc (BP.L: Quote, Profile, Research) called on Thursday for Russia to remove investment barriers to increase energy production and voiced support for a new gas pipeline under the Baltic.
"There is wide agreement today that protectionism in all forms, be it in trade or in inward investment, is short sighted and is not a remedy in times of economic distress," BP's chief executive Toni Hayward told Russia's Economic Forum.
"These barriers will slow down overall investment in the sector. Russia's oil production has recently started to decline and the demand for Russia's gas potentially also outstrips available supply," said Hayward.
BP has a bumpy history of relations with Russian authorities and its partners in the TNK-BP (TNBPI.RTS: Quote, Profile, Research) joint venture, four Soviet-bourn billionaires. Continued...
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