LONDON (Dow Jones), Mar. 1, 2010

BP PLC is expected to announce Tuesday an expansion of its U.S. shale-gas operations through a joint-venture deal in Texas with privately held Lewis Energy Group worth at least $160 million, people familiar with the situation said.

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Russian gas giant OAO Gazprom (GAZP.RS) last month said it was delaying the final investment decision on the Shtokman LNG project high in the Arctic because the U.S. shale-gas boom had changed the supply picture so dramatically. It also eased the terms on some of its long-term pipeline gas contracts in Europe to be more competitive with LNG imports.

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