BP has opened secret talks with Russia’s state-owned energy giant Gazprom to help build a pipeline to bring vast quantities of gas into Britain by 2016.
David Peattie, BP’s director for Russia, said talks were at ‘an early stage’ but Financial Mail understands that David Cameron has given the thumbs-up to a deal.
The Prime Minister discussed the plan with President Vladimir Putin when they met at the Olympics. Peattie said a deal could be signed as early as the middle of next year. The contract will follow BP’s recent deal to take a 20 per cent stake in Russia’s Rosneft.
A re-evaluation of its exploitable reserves is under way and is expected to lead to shares of both companies being re-rated by the stock market.
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