| [RusEnergy] TNK-BP, Gazprom Clinch Kovykta Deal
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On Friday, TNK-BP and Gazprom signed a memorandum of understanding according to which the Anglo-Russian company would sell its stake in the giant Kovykta gas condensate field to Gazprom. TNK-BP retains an option to buy back a 25 percent + 1 share by the end of the year. The two companies also agreed to form a $3 billion international investment committee. The agreement may be the successful finale to BP's 10-year struggle to become a major player in the Russian gas market. It also indicates that Gazprom is willing to seek compromises with foreign energy companies...
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