03 June 2004 04:54
Norsk Hydro could be key partner in Shtokman project
MOSCOW. June 3 (Interfax) - Norsk Hydro could be one of the key partners of Gazprom and Rosneft in the estimated $19
billion-$21 billion Shtokman offshore gas project.
Gazprom said in a press release that Alexei Miller, its CEO, said during a Thursday meeting with Norsk Hydro
President Eivind Reiten that "Hydro could become one of the most important partners in the Shtokman project given
its unique technological capability and real practice obtained in transporting gas from and producing gas at offshore
fields."
Reiten, for his part, outlined Hydro's cost-cutting methods at the initial stages of projects like these.
The parties agreed to for a working group to draft terms for Hydro's involvement in the Shtokman project.
ZAO Sevmorneftegaz, a company formed jointly by Rosneft-Purneftegaz and Rosshelf, subsidiaries of Rosneft and
Gazprom, respectively, is licensed to develop Shtokman field.
Shtokman holds recoverable reserves of 3.2 trillion cubic meters of gas and 27 million tonnes of oil. Commercial
production is to begin in 2010. [RU ASIA EUROPE EEU EMRG ENR NGS NO RESF ENQ] pr
[Interfax] |
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