Total of France Says Maintains Shtokman Stake

Total of France said it is keeping its 25% stake in Shtokman project after Russia’s Gazprom said today that it would review the composition of the consortium to develop the Shtokman offshore gas field next month, Reuters reported, citing Total’s spokeswoman.

“The target is to successfully conclude talks at the end of June,” she said.

“What we are discussing is the optimization of a 100-percent liquefied natural gas project,” she added.

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, May 23, 2012; Image: Shtokman