Alexey Miller's column

Gazprom chooses French Total as partner for the initial phase of the Shtokman field development

“Gazprom has made a decision on the choice of a foreign partner to implement the initial phase of the Shtokman field development, and named French Total S.A. as such.”

On the Shtokman field development

“Gazprom will use 100 per cent of the Shtokman field resources. Over the continuous period of time Gazprom has studied the possibility of providing foreign companies with a 49 per cent stake in the Shtokman project. International companies however failed to offer assets matching Shtokman’s reserves in amount and quality. The field will be developed with the use of state-of-the-art technological developments, including for LNG production. Reputable international companies will be invited as project contractors for these purposes. Meeting project deadlines and costs is a prerequisite for prospective contract awards. This decision is an additional guarantee of Russia’s reliable gas supplies to Europe in the long-term and the proof that the European market is of primary significance for Gazprom.”

Gazprom will use 100% of the Shtokman field resources

“Gazprom will use 100 per cent of the Shtokman field resources on its own. Over the continuous period of time Gazprom has studied the possibility of providing foreign companies with a 49 per cent stake in the Shtokman project. International companies however failed to offer assets matching Shtokman’s reserves in amount and quality. The field will be developed with the use of state-of-the-art technological developments, including for LNG production. Authoritative international companies will be invited as project contractors for these purposes. Meeting project deadlines and costs is a prerequisite for prospective contract awards. This decision is an additional guarantee of the Russian gas supply to Europe security in the long-term and proof that the European market is of dominating significance for Gazprom”.