Gazprom discussing Shtokman
Gazprom-leader Aleksey Miller yesterday met with Total’s Christophe de Margerie in Paris to discuss the development of the Shtokman project. The same day, the company had an internal Shtokman meeting in its Moscow headquarters. The hectic meeting activity came just few hours before today’s anti-crisis meeting in the company board.
As BarentsObserver has reported, the international financial turmoil and subsequent economic downturn might make the gas company loose up to 20 billion USD on sales to Europe in 2009. In addition, the company is dire need of fresh investment funding.
According to a press release from Gazprom, the meetings held on the Shtokman project did not include project crisis measures. However, it is hard to imagine that the financial situation was not on the agenda.
As a matter of fact, the meetings about the Shtokman project were held just few hours before today’s company crisis board meeting. That in itself raises speculations about the project’s wellbeing.
As BarentsObserver reported recently, the Shtokman project faces serious challenges following the difficult financial situation, and Gazprom could eventually be forced to postpone the project unless new terms of cooperation with the project partners are settled.
In a recent meeting with the press, leader of the Shtokman Development Gazprom, Yury Komarov indicated that a bigger level of support from foreign partners Total and StatoilHydro will be needed.
According to Gazprom, the implementation of the first phase of the Shtokman project was discussed with Christophe de Margerie, as well as “the perspective development of cooperation between the two companies”. Both parts are reported to be content with the work of their joint Shtokman Development Company.
Read more:
Gazprom press release on meeting between Miller and Christophe de Margerie
