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Novatek May Meet Turkey Protest Over Cyprus, Kommersant Reports

May 21 (Bloomberg) -- OAO Novatek, Russia’s second-biggest natural gas producer, may encounter a standoff with Turkish authorities in its bid to explore in waters off Cyprus, Kommersant said, citing a Turkish government statement.

On May 18 Turkey’s foreign ministry warned all companies planning to search for hydrocarbons in the island’s offshore zone that there were tensions in the region, and they risked not being allowed to join future energy projects in Turkey if they participated in a tender announced by the Cypriot authorities, the newspaper said.

Novatek did not comment when contacted by the newspaper on Friday. The company plans to proceed with the tender despite Turkey’s warning, the newspaper said, citing an unspecified person familiar with the company plans.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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