Total seeks long-lasting Shtokman engagement

According to Total’s and StatoilHydro’s agreements with Gazprom from 2007, they will only be involved in the project’s first phase. -Yes, Gazprom can, if it wants, act all alone in the project’s subsequent phases. However, we will do whatever we can to continue the fairytale together, he said in an interview with French media. He also confirms that Total might agree to hand over Shtokman technology to Gazprom also after the project’s phase one, in a bid to get continued engagement. Both Total and StatoilHydro will have been hired by Gazprom as Shtokman partners in the project’s first phase. However, the two foreign companies’ participation in the subsequent phases remains unsettled. The newly established Shtokman Development Company is owned 51 percent by Gazprom, 25 percent by Total and 24 percent by StatoilHydro. The company will develop project infrastructure, but will reportedly not own any of the huge hydrocarbon resources. Gazprom has five representatives in the company board, while Total and StatoilHydro both have two, Rbc.ru reports