TNK-BP seeks partner for energy JV - Slobodin
MOSCOW. March 29 (Interfax) - TNK-BP is talking with Inter RAO UES , Technopromexport, and the Summa group on the creation of a joint energy venture, TNK-BP's Vice President for strategy and business development Mikhail Slobodin told reporters.
TNK-BP is prepared to offer its selected partner 75% in the JV, and stands ready to provide gas and guarantee energy purchases.
TNK-BP's energy development department director, Konstantin Konstantinov, said that options are now being discussed that involve a pilot partnership prioritizing greenfield projects. This involves associated gas, company sources said, without specifying either how much might be supplied or from what deposits.
Konstantinov said that the plans for setting up the JV represent a form of market-testing. Slobodin added that the initial negotiations have confirmed power industry interest in cooperation of this kind. The negotiations have only been underway for a few months, and are still in the preliminary phase.
A source familiar with the situation told Interfax that the venture would involve fields in Orenburg Region. Slobodin said earlier that the construction of a power plant in this region could be an alternative to the project to build a new generating unit at the Nizhnevartovskaya GRES power plant (being built jointly by TNK-BP and Inter RAO).
Inter RAO confirmed that the company is holding negotiations with the oil company, but said there are no final agreements yet.
Technopromexport also told Interfax that it is premature to talk about any clearly formulated plans. "But we are indeed studying the possibility of Technopromexport's participation in projects to create a joint venture in the power sector," company CEO Oleg Isayev said. He said a decision will be made after an assessment of the required investment and the level of returns. Technopromexport is also involved in the construction of the third unit at Nizhnevartovskaya GRES.
Construction of a new 410-MW unit at Nizhnevartovskaya GRES began last July and is scheduled to be completed by fall 2013. Earlier it was thought that another 410-MW unit would be launched in 2015. The launch of 800 MW of new capacity is stipulated in the plant's capacity supply agreement.
Nizhnevartovskaya GRES has installed capacity of 1,600 MW (two 800-MW generating units). CJSC Nizhnevartovskaya GRES is owned by NVGRES Holding, 75% minus one share of which is owned by Inter RAO-controlled OGK-1 and 25% plus one share by TNK-BP.
