Russ Oil-Gas

10–10–2006 Regnum News – Gazprom’s decision to develop Shtokman gas field on its own without participation of foreign partners “is connected with high risks,” Research Supervisor of Economics High School (Moscow) Yevgeny Yasin is quoted as saying on air of Ekho Moskvy Radio. “To develop Shtkamn field, high expenditures are needed; the question is whether Gazprom has enough resources for it,” Yasin says. Earlier REGNUM reported that on October 9, Gazprom CEO Alexei Miller announced Gazprom would develop the gas field on its own. “For a long period Gazprom has been considering a possibility of selling 49% in the Shtokman project to foreign companies. However, foreign companies failed to provide assets corresponding in their amount and quality with the Shtokman gas field. In development of the field modern technologies and technical decisions will be used, particularly in extraction of natural gas. For this aim respectable international companies will be engaged as contractors. The most important condition of these contracts will be observance of time limits and cost of works. The decision is an extra guarantee of reliability of Russian gas supplies to Europe for long-term perspective and evidence that the European market is most important for the company,” Miller is quoted as saying.