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Total to receive quarter of Shtokman gas output: report
0 Comments | AFP, August, 2007
MOSCOW (AFP) — French energy major Total will receive a quarter of the output from the first stage of the vast Shtokman gas field project in northern Russia, the Kommersant daily reported on Wednesday.
The company will also have "wide powers" to participate in managing the project together with Russian gas giant Gazprom, the newspaper said, citing two sources close to the negotiations.
According to an analyst quoted by Kommersant, Total would pay around 800 million dollars for a 25 percent share in output. A Gazprom executive told the daily that this figure was "close to the truth."
Total officials could not immediately be contacted to comment on the report.
Future production during the first stage of the project, which is due to start in 2013, is...
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