Gazprom and Statoil Discuss Shtokman Project Progress
A meeting between Gazprom's Alexey Miller and Statoil's Helge Lund addressed the Shtokman project's current status and future collaboration. The Shtokman field, located in the Barents Sea, is vital for developing a new gas production region in the Arctic.
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Alexey Miller of Gazprom and Helge Lund of Statoil met to discuss the Shtokman project, focusing on enhancing cooperation. The Shtokman field holds significant reserves, with C1 reserves of 3.9 trillion cubic meters of gas and 56.1 million tons of gas condensate, crucial for developing a new gas production region in Russia's Arctic.
Gazprom neft shelf, a Gazprom subsidiary, manages exploration and production licenses. The project involves partners Total and Statoil, with a Shareholder Agreement established in February 2008 for Shtokman Development AG to manage Phase 1 facilities for 25 years. This development is strategic for increasing gas deliveries via pipeline and LNG.
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