Foreign majors may 'share' in Shtokman profits: Gazprom

0 Comments | AFP, July, 2007

MOSCOW (AFP) — Russian gas giant Gazprom could allow foreign partners to share in managing the vast Shtokman gas reserves, the company's deputy CEO Alexander Medvedev said in an interview published on Monday.

Gazprom could "allow foreign partners to share in the economic benefits of the project, share the management and take on a share of the industrial, commercial and financial risks," Medvedev told the Financial Times.

Medvedev suggested that this could be done by giving foreign energy majors stakes in the company running the project and said Shtokman was expected to produce its first gas in 2013.

The Shtokman field, one of the world's few known giant reserves yet to be tapped, is estimated to contain 3.7 trillion cubic metres of gas and lies in the...