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Tuesday, June 02, 2009

Gazprom reiterates Shtokman decision due Q1, 2010

ABU DHABI, June 1, 2009 (Reuters by Luke Pachymuthu) - Russia's Gazprom (GAZP.MM) reiterated on Monday it expected to take an investment decision on its Shtokman gas project with partners Total (TOTF.PA) and StatoilHydro (STL.OL) in the first quarter of 2010. The partners should complete engineering and design on the project by the end of 2009, Rosario Sgarioto, marketing manager at Gazprom LNG, said in a presentation to an energy conference in Abu Dhabi. Shtokman, one of the largest gas fields in the world, was scheduled to start producing gas for export by pipeline by 2013 and as liquefied natural gas in 2014. Gazprom owns 51 percent of Shtokman Development AG, while France's Total holds 25 percent and StatoilHydro owns 24 percent.

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