The Board of Directors of TNK-BP International is expected to consider on July 20 the feasibility of taking part in a project to expand the Nord Stream natural gas pipeline, the company's press office said. The company's management sent a relevant motion to shareholders, Russia's AAR consortium and U.K's oil company BP, RBC reports.
The project is of potential interest to TNK-BP as a means of generating revenue from the sale of gas from the company's projects in the Yamal Peninsula and the Krasnoyarsk Region. TNK-BP is not currently in talks on joining the international project led by Gazprom.
The project's operator Nord Steam AG is conducting a feasibility study in a bid to expand the pipeline by adding third and fourth lines. At present, the first line is up and running and the second one is expected to be commissioned in the fourth quarter.
Gazprom CEO Alexey Miller said on June 29 that BP was interested in expanding Nord Stream to the U.K. Miller indicated that there could be changes in the project's shareholder structure.
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