Russia Today: Shtokman project under question again

Russia's Gazprom is considering reviewing the organization of the consortium to develop the Shtokman offshore gas field next month, sparking uncertainty over the Shtokman’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, said during a briefing.

The consortium is expected to announce its new approach on the development of the project at the St. Petersburg International Economic Forum in June, according to Reuters. 

Currently Gazprom holds about 50% in Shtokman projects, while its partners French Total and Norwegian Statoil have 25% and 24% respectively. Gazprom partnered with Total and Statoil in 2008 to develop and explore the field, but no significant progress has been made yet.  MORE