Russian Gazprom May Focus Shtokman Project on LNG

Russian gas giant Gazprom may drop plans to pipe gas from the Shtokman gas field in the Barents Sea, focusing instead on producing LNG, Reuters reported, citing the company’s deputy chief executive Alexander Medvedev.

This is the first time that Gazprom mentioned this option.

Shtokman Development AG is a joint project created by three industry leaders — Gazprom (51%), Total (25%) and Statoil (24%).

Gazprom recently said that the shareholders in Russia’s Shtokman project agreed at a meeting to postpone a final investment decision until July 1.

Russia currently has only one LNG terminal located on the Sakhalin Island and it consists of two process trains, each having the throughput capacity of 4.8 million tons of LNG per annum.

[mappress]
LNG World News Staff, April 9, 2012; Image: Shtokman