The shareholders in Russia’s Shtokman project agreed at a meeting yesterday to postpone a final investment decision until July 1, Shtokman Development AG said in a statement.
“ The shareholders are confident that the Project can be improved further, both technically and economically,” the company said.
“ The shareholders decided to extend the Framework Agreements till July 1, 2012 ,” it added.
Shtokman Development AG is a joint project created by three industry leaders — Gazprom (51%), Total (25%) and Statoil (24%).
The Shtokman field is situated in the central part of the continental shelf within the Russian sector of the Barents Sea.
The Shtokman field will become a resource base for building up deliveries of Russian gas both by pipeline and in the form of liquefied natural gas to domestic and foreign markets.
[mappress]
LNG World News Staff, March 30, 2012