The Board of Directors of Shtokman Development AG at a meeting in Zurich on March 26 reviewed the work program and approved the company’s budget for 2010, the company statement said.
Shtokman’s project partners, Gazprom, Total (France) and Statoil (Norway), have confirmed their intention to adopt in March 2011 an investment decision on the first part of the project to supply products of the first phase of the Shtokman project in the Gazprom’s transportation system. The gas deliveries were scheduled to begin in 2016.
The partners are expected to have decided over the investment LNG plant project by the end of 2011, to start LNG deliveries in 2017, the company said.
The Shtokman field is located in the central part of the Russian sector of the Barents Sea. Shtokman's C1 reserves estimated to be 3.8 trillion cubic meters of gas and 53.3 million tons of gas condensate. Gazprom Neft Shelf (formerly SevMorNefteGaz, a 100-percent subsidiary of Gazprom) licensed Shtokman field for geological exploration and production of gas and gas condensate.
Gazprom's partners in the Shtokman project are Total (France) and Statoil (Norway). In February 2008 Gazprom, Total and StatoilHydro signed a stockholders' agreement to establish Shtokman Development AG for the design, development, construction, financing and operation of the first phase of the Shtokman field.
Shtokman’s project partners, Gazprom, Total (France) and Statoil (Norway), have confirmed their intention to adopt in March 2011 an investment decision on the first part of the project to supply products of the first phase of the Shtokman project in the Gazprom’s transportation system. The gas deliveries were scheduled to begin in 2016.
The partners are expected to have decided over the investment LNG plant project by the end of 2011, to start LNG deliveries in 2017, the company said.
The Shtokman field is located in the central part of the Russian sector of the Barents Sea. Shtokman's C1 reserves estimated to be 3.8 trillion cubic meters of gas and 53.3 million tons of gas condensate. Gazprom Neft Shelf (formerly SevMorNefteGaz, a 100-percent subsidiary of Gazprom) licensed Shtokman field for geological exploration and production of gas and gas condensate.
Gazprom's partners in the Shtokman project are Total (France) and Statoil (Norway). In February 2008 Gazprom, Total and StatoilHydro signed a stockholders' agreement to establish Shtokman Development AG for the design, development, construction, financing and operation of the first phase of the Shtokman field.