Shtokman investment decision by year end – Gazprom
An investment decision on the Shtokman gas project is expected to be made by the end of 2011, says Gazprom’s Deputy CEO Valery Golubev.
This could mean another delay in the decision process, which was planned to be finished in a few weeks. In March, Alexander Medvedev, another Deputy CEO of Gazprom, told reporters that an investment decision on the project could be made in April.
Valery Golubev did not specify when a final investment decision will be taken, only that it will be done this year, PRIME-TASS reports.
Only last week Chairman of the Gazprom’s Management Committee Alexey Miller and Chief Executive Officer of Statoil Helge Lund met to discuss the situation in the European energy market and concluded that it now is very important to keep the Shtokman project on schedule, as BarentsObserver reported.
Gazprom owns a 51% stake in Shtokman Development, the operator of the Shtokman gas project, while France’s Total owns 25%, and Norwegian Statoil owns the remaining 24%.
The Shtokman field, located more than 500 kilometers (310 miles) off the coast of Russia in the Barents Sea, may contain 3.9 trillion cubic meters of gas resources.
