Russian oil and gas firm Zarubezhneft plans to sell its stake in Indonesia's Tuna gas project, the upstream regulator said on Tuesday, after its British partner said sanctions were complicating their joint development.
(Clarifies gas-fired power plant plans in paragraphs 8 and 9)
LONDON, March 11 (Reuters) - British power generator Drax is evaluating its options after a British power capacity auction and could sell four open-cycle gas turbine (OCGT) projects, it said on Thursday.
Drax provisionally secured 15-year backup power agreements worth a total 230 million pounds ($321 million) for three new 299 megawatt (MW) OCGT projects at sites in England and Wales.
Drax has said the capital cost for each project is about 80 to 90 million pounds with a build time of some two years, putting the total value of the agreements below the development costs.
Another OCGT project participated in the auction but dropped out above the clearing price and did not secure an agreement.