Shtokman Project to Be Delayed

Gazprom is likely to postpone the development of the Shtokman gas field indefinitely, leaving it for "future generations," Gazprom deputy CEO Andrei Kruglov said, Vedomosti reported Monday.

After more than two decades of maneuvering, deals and attempts to get the project off the ground, executives will meet this week to discuss the fate of the Shtokman enterprise in the Barents Sea north of the Russian mainland.

According to Kruglov, Gazprom has shifted its focus to the more accessible South Kirinskoye deposit in the Sea of Okhotsk off the island of Sakhalin north of Japan. The field "is located much closer to Asia Pacific markets," he said.

(MT)

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