- Sputnik International
Russia
The latest news and stories from Russia. Stay tuned for updates and breaking news on defense, politics, economy and more.

Total SA gives "second breath" to Shtokman - Gazprom

Subscribe
The board chairman of Russia's natural gas monopoly said Friday the involvement of French oil major Total SA had provided a boost to the giant Shtokman natural gas project in the Arctic.
MOSCOW, July 27 (RIA Novosti) - The board chairman of Russia's natural gas monopoly said Friday the involvement of French oil major Total SA had provided a boost to the giant Shtokman natural gas project in the Arctic.

The Shtokman project "has a very good future, and a second breath now," Dmitry Medvedev, who is also a first deputy prime minister, told a RIA Novosti news conference, commenting on Gazprom's approval of Total as a partner to develop the field.

"It is quite clear that in view of global significance and size of reserves the Shtokman field is unique. Of course, Gazprom could have handled this work itself. But why? It is better for the costs, risks and profits to be shared with partners who are materially and technologically ready to play a role in the project," Medvedev said.

He did not rule out admitting other companies as partners or subcontractors in the $30-billion project to develop the field, with estimated reserves of 3.7 trillion cubic meters, set to supply the Nord Stream pipeline from Russia to Germany under the Baltic Sea.

"Could someone else emerge? Yes. Of course the list of potential players is short because we should be looking at ... large companies well-known on the marketplace," he said.

Last year Gazprom turned down Shtokman partnership offers from Total, U.S. ConocoPhillips and ExxonMobil, and Norway's Norsk Hydro and Statoil, and Gazprom CEO Alexei Miller said the Russia would develop the field on its own.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала