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BP Sells Stake In Russian Gas Field To Gazprom

Gazprom will pay up to $900 million for the stake (ITAR-TASS) June 22, 2007 -- British oil firm BP says it has agreed to sell its stake in a vast Siberian gas field to Russian state monopoly Gazprom.

A statement from BP said Gazprom would pay up to $900 million for BP's 63 percent stake in the company that holds the license for the Kovykta gas field.

MORE: Read about it in Russian on RFE/RL's Russian Service website

The move is seen as potential step towards further tightening of the Kremlin's grip on Russia's energy reserves.

(Reuters, AP, AFP,

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