Royal Dutch Shell is still in talks with Gazprom about joining the Shtokman liquefied natural gas project in the Arctic, one of the world's biggest gas deposits.
"We now have interest in doing more LNG projects in Russia," Shell chief executive Peter Voser said Thursday. "Discussions are ongoing."
Shell and Gazprom are partners in the Sakhalin-2 LNG plant on Sakhalin island. Russian media have said Shell may replace Norway's Statoil in the Shtokman development in the Barents Sea, which may hold 3.8 trillion cubic meters of the fuel. Gazprom owns 51 percent of Shtokman Development, while Statoil has 24 percent and France's Total has 25 percent.