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18

Chevron Eyes 25% of Shtokman Gas Project

Chevron is one of five firms shortlisted by Gazprom for the project

US oil and gas company Chevron is hoping to win the development of a quarter of Russia's huge Shtokman gas project.

Chevron is one of five firms shortlisted by Gazprom for the project, which involves developing the Shtokman gas field in the remote and iceberg-strewn Barents Sea to produce liquefied natural gas (LNG) for sale to the U.S. market. Each contender hopes to take part ownership of the vast field, which contains around 3.5 trillion cubic metres of gas.