LONDON - Gazprom (GAZP.RS) will look at the possibility of buying a stake in TNK-BP Holding (TNBP.RS) if offered, but it has yet to receive such a proposal, the Russian gas giant's deputy chairman said Tuesday.
Speaking at a press briefing, Alexander Medvedev said if it receives a proposal from TNK-BP shareholders to sell their stake "we will investigate."
But TNK-BP's assets "match" well with Gazprom but at this stage, "there is no proposal, nothing to discuss," he added.
TNK-BP is 50%-owned by BP PLC (BP) and the other half by a group of Russian shareholders -Alfa Group, Access Industries and Renova Energy (RVA.LN).
On the Russian company's preliminary agreement to acquire TNK-BP's stake in the Kokykta gas project, Medvedev said he hoped to complete talks by the end of the year. "There is still a lot to be done," he added.
The tentative agreement, signed in June, also includes the possibility of an asset swap between Gazprom and TNK-BP half-owner BP, which he said had been identified by Gazprom.
Medvedev added the assets were worth $1.5 billion. It was unclear if this was the value of the assets BP would bring to the partnership, or the combined value of the assets brought by both parties.
Asked if Gazprom was looking at U.K. acquisitions following speculation it could buy U.K. gas company Centrica PLC (CNA.LN), the deputy-chairman added "we are not engaged in discussions with the management of any company over a potential acquisition." He added: "If there is something real, the (U.K.) takeover panel would be the first to know."
Separately, Medvedev said the company operating the giant Shtokman gas project it controls would be registered in Zug, Switzerland.
DowJones Newswires