Member access

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

ROSNEFT' NK OAO (ROSN)

14
SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

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

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
React to this article
Latest news on ROSNEFT' NK OAO
10:02a ROSNEFT' NK : Rosneft will report its Q4 2014 consolidated IFRS financial result..
03/02 ROSNEFT' NK : Tomsknet Starts Using Drones
02/27 GAZPROM : Russia to mull allowing China over 50 percent stake in strategic oil, ..
02/20 ROSNEFT' NK : Catreforming and Isomerization units commissioned at Novokuibyshev..
02/18 ROSNEFT' NK : Rosneft Reserve Replacement Ratio 2014 Amounted to 154%
02/17DJROSNEFT' NK : Canada Unveils New Sanctions Against Moscow
02/17DJROSNEFT' NK : Canada Unveils New Sanctions Against Moscow, Sympathizers in Ukrai..
02/16 ROSNEFT' NK : Rosneft Released Information of the Management Board Earnings
02/13 ROSNEFT' NK : Rosneft Early Repays Part of a Loan Arranged for TNK-BP Acquisitio..
02/13 ROSNEFT' NK : Igor Sechin Participated in IP Week
Advertisement
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF