Member access

4-Traders Homepage  >  Shares  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Rosneft' NK OAO    ROSN   RU000A0J2Q06

ROSNEFT' NK OAO (ROSN)

8
SummaryNewsCalendarCompanyFinancialsConsensusRevisions 

Statoil May Leave Shtokman, May Be Replaced By Shell -Paper

05/25/2012 | 01:22am US/Eastern
Recommend:
0

Norway's Statoil ASA (STO) may leave the international consortium that is to develop the Shtokman liquefied natural gas offshore project in the Russian Barents Sea and may be replaced by Royal Dutch Shell PLC (RDSA), Kommersant daily reports Friday citing unnamed sources.

Russian gas giant OAO Gazprom (>> Gazprom OAO) owns 51% of the Shtokman gas field, Total SA (TOT) of France owns 25% and Statoil owns 24%.

The project has suffered a number of delays on the investment decision recently.

A Gazprom official said Wednesday the company may review the list of participants in its project to develop the Shtokman field next month. According to Kommersant the changes may be announced at the St. Petersburg economic forum in late June.

If Statoil leaves the project, it would still have a foothold in Russia. The company agreed May 5 to form a joint venture with Russia's state-controlled oil company OAO Rosneft (>> Rosneft' NK OAO) to develop Russia's mostly untapped offshore energy resources in the Arctic.

Gazprom and Shtokman declined to comment.

A Statoil spokesman also declined to comment but said the company "supports Gazprom, and there was agreement in the previous board meeting to move on with the project to make it profitable."

-By Alexander Kolyandr, Dow Jones Newswires; alexander.kolyandr@dowjones.com (Kjetil Malkenes Hovland in Oslo contributed to the report)

Stocks mentioned in the article : Rosneft' NK OAO, Gazprom OAO
Recommend :
0
React to this article
Latest news on ROSNEFT' NK OAO
1h ago ROSNEFT' NK : Igor Sechin Held Negotiations with PetroVietnam Chairman of the Bo..
11h ago ROSNEFT' NK : Rosneft and ExxonMobil Started Field Studies in the Shelf Area of ..
1d ago GAZPROM : Under Putin's gaze, Gazprom starts mega-pipeline to China
1d ago ROSNEFT' NK : Thirty Rosneft Subsidiaries Took Part in the All-Russian Environme..
1d ago ROSNEFT' NK : Achinsk refinery resumed crude refining on tight schedule
4d ago ROSNEFT' NK : Bulk Equipment is Delivered to Syzran Refinery
5d ago ROSNEFT' NK : Rosneft and AVTOVAZ Strengthen Strategic Cooperation
6d agoDJSeadrill Sees Challenging Rig Market Through 2015
08/25 ROSNEFT' NK : RN–Aero Demonstrates Strong Results in Six Months of 2014
08/22DJRosneft Takes Stake in N.Y.-Listed Oil-Services Firm
Advertisement
Dynamic quotes  
ON
| OFF