Shell in Talks to Join Shtokman Project, Russia

Shell in Talks to Join Shtokman Project, Russia

Shell is in talks to join Russia’s Shtokman project, Reuters reported, citing unnamed sources.

Talks regarding Shell’s participation in Shtokman are under way … There are different project configurations under discussion now but Gazprom will keep a 51 percent stake,” a source close to the Shtokman consortium told Reuters.

Earlier this week Total of France said it is keeping its 25% stake in Shtokman project after Russia’s Gazprom said that it would review the composition of the consortium to develop the Shtokman offshore gas field.

Shtokman Development AG is a joint project created by three industry leaders — Gazprom (51%), Total (25%) and Statoil (24%).

LNG World News Staff, May 25, 2012; Image: Shtokman

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