New partners for Shtokman

The Shtokman partnership consortium might undergo changes, Gazprom leader Aleksei Millers told journalists before heading to a meeting with the CEO of Shell.


Talking to journalists during this week’s 15th World Gas Conference in Kuala Lumpur, Aleksei Miller signaled that changes in the Shtokman partnership are imminent.

“I can tell you only one thing – that there might appear new partners,” Miller told Interfax. According to the news agency, the company leader stressed the word “new”. He also underlined that Gazprom has no intention to reduce its 51 percent share of the Shtokman Development AG, the project operating company. Asked whether the partnership changes had been approved by Total and Statoil, Miller only responded that “negotiations are ongoing”.

According to Itar-Tass, Miller also indicated that parts of the financing plan for project infrastructure might be postponed from the first project phase to phase two or three. Gazprom intends to change the Shtokman development model into a 100-percent LNG project.

Sources close to the company say to Vedomosti that Gazprom has “questions to Total” and “demands to Statoil” in connection with the Shtokman process.

Royal Dutch Shell now looks likely to be included as Gazprom’s third partner in the project. Aleksei Miller yesterday met with Shell’s Peter Voser, reportedly to discuss the development of the Sakhalin-2 project, a press release from the company informs. However, it is highly likely that also the Shtokman field was on the meeting agenda.