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BP and Gazprom will create a joint venture anyway

Talks on BP and Gazprom joint venture are to be revived

Last year BP and Gazprom agreed to contribute assets worth about $3 billion to a joint venture.

TNK-BP planned to sell its stake in the Kovykta gas field to Gazprom, while BP had an option to buy back a quarter of the deposit.

Talks stalled while BP was locked in a power struggle with its partners in TNK-BP.

Nevertheless, the joint venture "idea hasn't died," Gazprom spokesman Sergei Kupriyanov said.

There were no deadlines settled for the creation of the joint venture.

So far, the next round of talks has not been scheduled, by it will be held without fail after settling a dispute in TNK-BP.

Author: Ksenia Kochneva