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    Sputnik: France's Total to Return 25% Stake in Shtokman Gas Field Project to Gazprom

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Summary

Vedomosti says its sources have told it that Total will return its 25% stake in the Shtokman project in the Barents Sea to Gazprom

by: Erica Mills

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Sputnik: France's Total to Return 25% Stake in Shtokman Gas Field Project to Gazprom

French energy giant Total will give Russia’s Gazprom its 25-percent share in Shtokman Development AG, created in 2008 to develop the first phase of the Shtokman gas field, Vedomosti reported Wednesday, citing sources close to both sides of the negotiations.

Located some 230 miles northeast of the city of Murmansk in a Russian section of the Barents Sea, the Shtokman field is one of the world’s largest natural gas fields. Reserves in the Shtokman deposit amount to 3.9 trillion cubic meters of natural gas, according to the company. 

Read the full article HERE.

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