Gazprom, Total sign deal
Gazprom and Total signed a 25-year deal on Friday to develop phase one of the giant Shtokman gas field, large enough to supply the world for over a year.
By Agencies |
MOSCOW: Gazprom and Total signed a 25-year deal on Friday to develop phase one of the giant Shtokman gas field, large enough to supply the world for over a year. Work will start as early as this month on the offshore field in order to meet a deadline to start production in 2013 under a framework agreement signed between the two companies, they said in a joint statement.
Under the deal, finalised after a telephone conversation between presidents Vladimir Putin and Nicolas Sarkozy, Total would gain a 25% stake in a special purpose vehicle that would operate the field and own its infrastructure.
Under the deal, finalised after a telephone conversation between presidents Vladimir Putin and Nicolas Sarkozy, Total would gain a 25% stake in a special purpose vehicle that would operate the field and own its infrastructure.
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