Reuters: Gazprom reviews Shtokman line-up

Russia's Gazprom said it is reconsidering the composition of the consortium to develop the Shtokman offshore gas with a decision expected next month, further heightening uncertainty over the project's future.

"The project is being reviewed at the moment. A decision on members and the scheme is expected in June," Vitaly Markelov, Gazprom's deputy CEO, told a briefing on Wednesday.

Gazprom sources said that there could be a departure from Shtokman, where the Russian gas giant has partnered with Statoil of Norway and Total of France.

Total owns 25 percent, Statoil 24 percent and Gazprom the remainder of Shtokman, one of the world's largest gas fields with reserves of 3.7 trillion cubic metres located 550 kilometres (340 miles) offshore in the freezing waters of the Barents Sea.

Industry sources in Moscow say all existing tenders have been cancelled and the corporate structure, Shtokman Development AG, downsized, potentially leaving room for a fresh start on determining how the project is run.  MORE