Russia: Gazprom, Statoil Discuss Shtokman Project

Saint Petersburg hosted yesterday a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Helge Lund, President and Chief Executive Officer of Statoil.

The parties discussed the key issues of cooperation in the gas sector and exchanged views on the progress with preparations for Shtokman Phase 1 development.

The Shtokman field is situated in the central part of the Russian sector of the Barents Sea. C1 reserves of the field make up 3.9 trillion cubic meters of gas and 56.1 million tons of gas condensate, with 3.8 trillion cubic meters of gas and 53.4 million tons of gas condensate located within Gazprom’s licensed area.

The Shtokman field will become a resource base for building up deliveries of Russian gas both by pipeline and in the form of LNG (liquefied natural gas) to the domestic and foreign markets.

[mappress]

LNG World News Staff, November 24, 2011; Image: Gazprom