Gazprom Prospects in Shtokman Field

Russian energy company Gazprom says it would start producing as much as 2.1 trillion cubic feet (tcf) of gas from its northern Shtokman project by 2030.

Gazprom, along with international majors Total and Statoil, postponed investment decisions on the project last year. This was partly due to market considerations brought on by shale gas development in the United States.

The Moscow Times reports that as much as 2.1 tcf of gas could come from Shtokman.

The field, which is in the Barents Sea, has an estimated 134 tcf of gas. Gazprom said some gas was designated for markets in the Atlantic basin, including the Nord Stream pipeline to Germany.

Gazprom in December said that engineering surveys for parts of the Shtokman project are in the final stage. Preparation for front-end engineering and design documents should be released for a national review by next year, the company stated in documents reported by agencies.