Gazprom confirms Shtokman change

Gazprom discussed the Shtokman project with Total during last week's Sankt Petersburg Economic Forum. Photo:

The configuration of the Shtokman project will be changed – that is for sure, says Gazprom Deputy Aleksandr Medvedev. The current shareholder agreement of the Shtokman Development AG runs out on 1 July


“The original configuration did not work. It will be changed – that is 100 percent sure,” Medvedev said on Sunday. He refused however to comment on speculations about a possible change in the Shtokman partnership, but only stressesd that “Gazprom will remain part of the project”, Vedomosti reports.

As previously reported, Gazprom is negotiating both with current partners Total and Statoil, and with Shell about the development of the grand Arctic project. Statoil has reportedly agreed to invite Shell into the project and even make it the biggest partner after Gazprom.

Meanwhile, the current shareholder agreement of the Shtokman Development AG will run out on 1 July. 

The Shtokman Development AG was established in February 2008. It is owned by Gazprom (51%), Total (25%) and Statoil (24%), and will be responsible for the development of the 3,9 trillion cubic meter gas field in the Barents Sea.