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13

Gazprom Might Welcome Foreign Partners for Shtokman Again

Gazprom could allow foreign partners to share in managing the vast Shtokman gas reserves

Russia's Gazprom declared it again could allow foreign partners to jointly develop the Shtokman gas reserves, the company's deputy CEO Alexander Medvedev said in an interview published on Monday.

Medvedev suggested that this could be done by giving foreign energy majors stakes in the company running the project and said Shtokman was expected to produce its first gas in 2013.

The Shtokman field, one of the world's few known giant reserves yet to be tapped, is estimated to contain 3.7 trillion cubic metres of gas and lies in the Russian section of the Barents Sea above the Arctic Circle.

Two years ago some global energy majors , such as Total of France, ConocoPhillips of the United States and Norway's Statoil and Norsk Hydro participated in a tender to be Gazprom's partner in Shtokman development, but they all were dismissed a year ago.