Shell Still in Talks Over Russia’s Shtokman Project, CEO Says
Royal Dutch Shell Plc is still in talks with OAO Gazprom about joining the Shtokman liquefied natural gas project in the Russian Arctic, one of the world’s biggest gas deposits.
Shell and Gazprom are already partners in the 9.6 million metric-ton-a-year Sakhalin-2 LNG plant on Sakhalin Island, off Russia’s far eastern coast.
Russian media have said Shell may replace Norway’s Statoil ASA in the Shtokman development. The field, about 400 miles northeast of Murmansk in the Barents Sea, may hold 3.8 trillion cubic meters of the fuel, according to Gazprom.
Gazprom owns 51 percent of Shtokman Development AG, Statoil 24 percent and France’s Total SA has 25 percent.
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