Russia: Shtokman FID Postponed

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