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Gazprom Delays Meeting

The Gazprom-led venture developing the Shtokman natural-gas field postponed a decision on whether to proceed with the Arctic project until next month.

Directors of Shtokman Development, an operating company whose other partners are Total and Statoil, will meet in April, Gazprom deputy chief executive Alexander Medvedev said late last week.

The venture decided last year to delay the project because of uncertainty in the gas market and planned to make an investment decision on gas for transportation by pipeline this month. The final investment decision on liquefied natural gas is due by the end of the year.

(Bloomberg)

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