Languages

One billion USD spent on Shtokman preparations

A total of one billion USD will be spent on preparations for the Shtokman project by the end of 2009, a representative of the Shtokman Development AG confirmed this week.

Location

Company representative Aleksandr Kosterg in a presentation this week confirmed that a total of 300 million USD already had been spent in the project and that the investments will amount to one billion USD by the end of the year. The offshore part of the project includes a 40,000 ton heavy and 130 meter high platform. Key part of the onshore part will be a 160,000 ton heavy LNG plant which will consist of 23 modules, Mr. Kosterg said, MBnews.ru reports. A total of 200,000 tons of concrete will be needed in the construction process. A 600 MW powerplant will be part of the first project phase.