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Total and Gazprom restart Shtokman talks
Posted 02.04.2013 10:52:22 av John Bradbury
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Total and Gazprom are said to be talking about putting new life into the potential development of the Barents Sea Shtokman field.

Total, now the only remaining partner with the Russian state company after Statoil backed out of the development project, is said to be in talks with Gazprom about  restarting work on the giant deepwater gas field.

Total's chief executive Christophe de Margerie has held another working meeting with Gazprom chief Aleksie Miller during which they talked about co-operation in both Bolivia and the Barents Sea, according to a Gazprom statement.

They talked of joint co-operation and development of the Shtokman gas field and considered possible solutions for cutting field development costs.

Miller and de Margerie agreed on a new road map to “...cement foundation for a new Shtokman development agreement,” according to the Barentsnova news service.

Shtokman lies 600 kilometres (375 miles) offshore in a water depth of 340 metres (1,115 feet) – about the same depth as Norway's Ormen Lange gas field – and the field is estimated to contain around 3.8 trillion cubic metres (137 trillion cubic feet) of gas and another 37 million tonnes (approximately 233 million barrels) of condensate.

Statoil- which held 24% equity in Shtokman Development AG – left the partnership with Gazprom and Total at the end of last year, and sold its stake back to Gazprom, leaving the Russian energy giant with 75% equity and Total with 25%.

Development of Shtokman was originally proposed via a LNG plant on a greenfield site at Teriberka, near Murmansk, but reports cited by Barentnova have since suggested a floating LNG plant is being considered as an alternative to a land-based solution.
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