Russia will have Shtokman despite crisis – Putin
In spite of the trouble in the world economy Russia will continue to develop the Shtokman gas condensate field, said Russian Prime Minister Vladimir Putin after discussions with the French Prime Minister François Fillon.
- The well-known Shtokman project was halted a bit because of the development on the world market, but we are going to realize it anyway, and French companies will be full-fledged participants, Putin said, according to RIA Novosti.
The operating company Shtokman Development has said that a final investment decision on production of pipe line gas will be made in March 2011. Later next year the investors will make a decision on production of LNG. Production of gas through the pipe line system will start in 2016, and LNG in 2017, the investors believe.
Read also: “Shtokman partners will meet all deadlines”
The Shtokman gas and condensate field - one of the biggest offshore fields of its kind - was discovered in 1988. The field is located in the central part of the Russian sector of the Barents Sea shelf, about 600 km northeast of the city of Murmansk at sea depths varying from 320 to 340 m.
The field’s C1+C2 reserves account for 3.8 tcm of gas and 37 mln t of gas condensate.
The Gazprom Dobycha Shelf - a 100 percent Gazprom subsidiary - holds the license to the project. The operator company is the Shtokman Development Company, a Swiss-registered joint venture of Gazprom (51%), Total (25%) and Statoil (24%).
