Gazprom and Total sign deal to develop Shtokman |
Reuters.uk - Jul 13, 2007 |
Gazprom and Total signed a deal on Friday to develop the giant Shtokman gas field, sealing a Franco-Russian energy partnership brokered at the highest political level.
The agreement to develop the $15-billion (7.4 billion pound), 25-year first phase of Shtokman, a field big enough to supply the world for over a year, could be the template for future deals in Russia, with foreign majors allowed in but only in a supporting role.
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The field has total reserves of over 3.7 trillion cubic metres, and will be developed in four phases. It was not clear how big the reserves would be in the first phase of Shtokman.
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- Posted: 2007-07-13 10:29:36
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