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Kazakhstan To Buy BG Kashagan Field

British Gas is likely to sell off its holding in the Kashagan field

British Gas is likely to sell off its holding in the Kashagan field, after Kazakhstan's energy minister Vladimir Shkolnik said the republic was going to buy a part of BG's stake.

Shkolnik said that Kazakh officials and representatives of the consortium led by Italian oil group ENI will meet in London on Thursday for a fresh round of talks.

Kazakhstan, pressed by some members of the consortium, intends to buy all or part of BG's 16.67 per cent stake in the Caspian project, what was resisted by most other consortium members. They want to exercise pre-emptive rights to buy BG's stake themselves.