Shtokman could suffer from world financial crisis
Leader of the Shtokman Devlopment Company says a significant part of LNG contracts within the Shtokman project will be signed by the end of 2009. At the same time, he expresses concern about possible consequences of the world financial crisis.
Talking with journalists this week, head of the Shtokman Development Company Yuri Komarov said that “a significant part of the Shtokman LNG contracts will be signed by the end of 2009”. He refused to be concrete on the number of expected contracts, however, news site Murmanchanin.ru reports with reference to RBC.ru. At the same time, he admitted that “an additional element of worry is the situation on the world financial markets”. Currently, the project is in a marketing phase, the company director maintained. He confirmed that drilling on the field will start in 2011. Two, perhaps even three, drilling rigs will operate on the field. By year 2013, a total of 16 wells will be drilled. Up to 20 LNG vessels, each with the capacity of 150-220 thousand cubic meters, will be required, six of them in the first development phase. The vessels will have to be built abroad, Mr. Komarov admitted. The leader of the Shtokman company also said that all project tenders will be held in the course of the second half of 2009. He is confident that the project will be successfully implemented. At the same time, he admits that the project is unique and unprecedented. –It can be listed in the Guiness Book of Records, he says.
