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Gazprom, Total and StatoilHydro set up a company to develop Shtokman
22.02.2008 13:14
Gazprom, Total and StatoilHydro set up a company to develop Shtokman

Russian gas monopolist Gazprom in cooperation with French Total and Norwegian StatoilHydro have jointly created a company to implement the first stage of development of the Shtokman gas and condensate field, the biggest in Russia.
      
      Gazprom will receive the major shareholding of the new company 51% of Shtokman Development AG. Total and StatoilHydro will control 25% and 24% respectively.
      
      The new company will operate as a proprietor of the infrastructure during the first stage of the project, for 25 years after bringing the gas field in commission. As soon as the first stage is completed foreign companies will give up their shares in favour of Gazprom.
      
      source:
      Russian Business


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