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Russia's largest gas reserve not needed until 2018: Gazprom chief

10-21-2010 08:43 BJT

MOSCOW, Oct. 20 (Xinhua) -- There was no economic reason to develop the Kovykta gas deposit until at least to 2018, Alexei Miller, CEO of Russian gas monopoly Gazprom, said Wednesday.

He was speaking after the operator of Russia's largest gas field, Rusia Petroleum, declared bankruptcy this week, RBC news agency reported.

The country's third-largest oil company, TNK-BP, is a major shareholder in and a creditor of Rusia Petroleum but it has been unable to start the deposit's development for 10 years due to lack of a pipeline and disputes with Gazprom.

Experts say that, after Rusia Petroleum's bankruptcy, Kovykta could be sold to Gazprom for a song.

Editor:Xiong Qu |Source: Xinhua

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