USD 200 million on Shtokman
Shtokman-partner Total will spend the money to finance engeering studies into the feasibility of the project, reports Reuters.
The cash will be spend over 2008-2009 and are in line with figures previously given by Gazprom. With this announcement, France’s Total confirms Gazprom’s statement earlier this week that there are no delays or budget cuts in the Shtokman development plans, reported by BarentsObserver.com yesterday.
The investment decision will be made in the first quarter of 2010. The Shtokman Development Company is a joint venture of Gazprom (51%), Total (25%) and StatoilHydro (24%).
