Less credits for Shtokman development
The credit financing of the Shtokman field in the Barents Sea will be reduced from the previously planned 70 percent to 60 percent, leader of the Shtokman Development Company confirms.
SDAG leader Yury Komarov confirmed to journalists that the credit proportion of the project will be reduced to 60 percent, RIA Novosti reports.
The remaining 40 percent of the investments will be made by the project partners, Komarov said. The operating company SDAG is owned by Gazprom (51%), Total (25%) and StatoilHydro (24%).
The estimated project development sum is 15 billion USD. That sum is likely to be adjusted after the final investment decision is made early 2010.
As BarentsObserver reported, the SDAG is currently in the process of inviting contractors to key parts of the project.
Despite the major current economic hardships of Gazprom, SDAG still maintains that the project will be in production from 2013 and that the project LNG plant will be completed in 2014.
