Gazprom Denies TNK-BP Stake Rumours

Gazprom has denied rumours that it is in the running to buy a stake in TNK-BP, saying it would wait to see details of any sale before even considering a purchase of the stake.

The 50 per cent stake, which may be sold by joint owner BP, was put on the market last week in response to outside, unsolicited interest in the company. The second shareholder in the joint venture is Alfa Access Renova (AAR).

Various media reports had speculated that Russian company Gazprom was one of those interested in purchasing the BP stake; however, CEO of Gazprom Alexey Miller said yesterday that the company had no current interest in the sale.

"This is the first time I've heard of it (the potential purchase)," he told reporters.

Today, deputy chairman of Gazprom Alexander Medvedev also denied that his company was considering the asset, and had not even begun to look into the possibility of buying the stake.

While Gazprom was always interested in potential involvement in good projects, he said, the company would have to see the details of the TNK-BP sale before it came to any conclusion.