Financial Times FT.com

Moscow warns TNK-BP over gas licence

By Catherine Belton in Moscow

Published: May 21 2007 20:36 | Last updated: May 21 2007 20:36

Moscow ratcheted up pressure on BP’s Russian venture on Monday, warning that TNK-BP could see the licence for its vast Kovykta gas field revoked within “a matter of days”.

Oleg Mitvol, head of Russia’s environmental watchdog, said his agency would open a probe on Wednesday into whether TNK-BP was meeting licence terms to develop the east Siberian field – as a three-month deadline passed for production there to be boosted to 9 billion cubic metres in line with requirements. TNK-BP has said this target would be impossible to meet.

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