Tuesday, December 12, 2006

Gazprom: "No more Mr. Nice Guy."

Well, it looks like it's going to get very interesting in Russia soon. This is not good news for ExxonMobil, BP, and ConocoPhillips, all of which have fairly substantial investments in Russia.

WSJ: Shell May Cede Control of Project To Russia's Gazprom. [$]


The person close to Gazprom also said gaining a controlling stake in Sakhalin-2 would set a precedent for Gazprom to press for control of other big Russian gas projects, such as the Kovykta field in Siberia, currently owned by the Anglo-Russian venture TNK-BP Ltd.


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