Preparation of an investment decision on the first phase of the Shtokman project is progressing according to schedule, the Russian state-run Gazprom company press office reports citing the results of the Company’s Board meeting, chaired by CEO Alexei Miller.
The meeting considered various options for placing objects of the coastal infrastructure of all three phases of the field development. It was noted at the meeting that the preparation for the final investment decision on the project’s first phase is carried out in accordance with the approved schedule.
The business units, subsidiaries of Gazprom and Shtokman Development AG were tasked to continue the preparation of a complex of technical and technological solutions that ensure economic efficiency and ecological safety of the Shtokman project in all phases of its implementation.
The Shtokman field is located in the central part of the Russian sector of the Barents Sea. The giant Shtokman's field holds an estimated 3.8 trillion cubic meters of natural gas and 53.3 million metric tons of gas condensate, where Gazprom plans to build a liquefied natural gas plant. Gazprom Neft Shelf (formerly SevMorNefteGaz, a 100-percent subsidiary of Gazprom) licensed Shtokman field for geological prospecting and production of gas and gas condensate. Gazprom's partners in the Shtokman project are Total (France) and Statoil (Norway).
Shtokman gas condensate field is of strategic importance for Gazprom. This field will become a resource base for Russian gas supplies, both via the pipeline and produced using LNG technology, to the Atlantic basin markets.
In February 2008 Gazprom, Total and StatoilHydro signed a stockholders' agreement to establish Shtokman Development AG joint venture (reg. in Swiss’ Zug) for design, development, construction, financing and operation of the first phase of the Shtokman field. GazProm holds a 51% stake, Total - 25%, 24% - by StatoilHydro. The companies have confirmed their intention to adopt in March, 2011 an investment decision over the project’s first phase to supply products from Shtokman to Gazprom’s gas transportation system. The Shtockman was reportedly due to be launched in 2016.
Shtokman Development AG will be the owner of the 1Phase of Shtokman field for 25 years after the field commissioning.
On February 5, 2010, taking into account changes on the LNG market, the Board of Directors of Shtokman Development AG decided to make the construction of a launching complex for the delivery of pipeline gas a separate stage in the project's first phase.
The final investment decision on the production of pipeline gas is scheduled to be adopt in March 2011, the decision on LNG production - at the second phase - before the end of 2011. This approach will allow launch gas production for delivery via pipeline in 2016 and to ensure the production of LNG in 2017.
In 2008 the Vyborg shipyard started construction of two semi-submersible drilling rigs to drill gas wells on the Shtokman field.
Platforms "Polar Star" and "Northern Lights" are designed to operate in harsh climatic conditions of the Far North, designed for wave height up to 32 meters and are able to conduct exploratory and development drilling of oil and gas wells to 7500 meters at depths of 70-500 m.
Construction of the first rig is to be completed in the 4th quarter of 2010, the second - in Q1, 2011.
The meeting considered various options for placing objects of the coastal infrastructure of all three phases of the field development. It was noted at the meeting that the preparation for the final investment decision on the project’s first phase is carried out in accordance with the approved schedule.
The business units, subsidiaries of Gazprom and Shtokman Development AG were tasked to continue the preparation of a complex of technical and technological solutions that ensure economic efficiency and ecological safety of the Shtokman project in all phases of its implementation.
The Shtokman field is located in the central part of the Russian sector of the Barents Sea. The giant Shtokman's field holds an estimated 3.8 trillion cubic meters of natural gas and 53.3 million metric tons of gas condensate, where Gazprom plans to build a liquefied natural gas plant. Gazprom Neft Shelf (formerly SevMorNefteGaz, a 100-percent subsidiary of Gazprom) licensed Shtokman field for geological prospecting and production of gas and gas condensate. Gazprom's partners in the Shtokman project are Total (France) and Statoil (Norway).
Shtokman gas condensate field is of strategic importance for Gazprom. This field will become a resource base for Russian gas supplies, both via the pipeline and produced using LNG technology, to the Atlantic basin markets.
In February 2008 Gazprom, Total and StatoilHydro signed a stockholders' agreement to establish Shtokman Development AG joint venture (reg. in Swiss’ Zug) for design, development, construction, financing and operation of the first phase of the Shtokman field. GazProm holds a 51% stake, Total - 25%, 24% - by StatoilHydro. The companies have confirmed their intention to adopt in March, 2011 an investment decision over the project’s first phase to supply products from Shtokman to Gazprom’s gas transportation system. The Shtockman was reportedly due to be launched in 2016.
Shtokman Development AG will be the owner of the 1Phase of Shtokman field for 25 years after the field commissioning.
On February 5, 2010, taking into account changes on the LNG market, the Board of Directors of Shtokman Development AG decided to make the construction of a launching complex for the delivery of pipeline gas a separate stage in the project's first phase.
The final investment decision on the production of pipeline gas is scheduled to be adopt in March 2011, the decision on LNG production - at the second phase - before the end of 2011. This approach will allow launch gas production for delivery via pipeline in 2016 and to ensure the production of LNG in 2017.
In 2008 the Vyborg shipyard started construction of two semi-submersible drilling rigs to drill gas wells on the Shtokman field.
Platforms "Polar Star" and "Northern Lights" are designed to operate in harsh climatic conditions of the Far North, designed for wave height up to 32 meters and are able to conduct exploratory and development drilling of oil and gas wells to 7500 meters at depths of 70-500 m.
Construction of the first rig is to be completed in the 4th quarter of 2010, the second - in Q1, 2011.