BP's (NYSE:BP) Azerbaijan Assets Draw Interest of Gazprom (MM:GAZP)

The huge Russian gas giant Gazprom (MM:GAZP), said would be interested in the Azerbaijan assets of BP's (NYSE:BP) if they come up for sale.

That was the response of Gazprom's CEO Alexei Miller when asked if he would be interested in the assets by a reporter.

Miller responded, "We will be ready to consider it if there is such an offer."

Particularly noted by Miller was the Shah Deniz project in the Caspian Sea, where BP holds a 25.5 percent stake. Other Azerbaijan assets include the the Azeri-Chirag-Guneshli oil project, where BP has a 34.1 percent stake, and the Baku-Tbilisi-Ceyhan pipeline company which exports oil to Turkey.

If the assets are put up for sale, there is no doubt BP could sell them to Gazprom, as they've said a number of times in the past they want to acquire all the available gas in Azerbaijan.