Gazprom Delays Startup of Shtokman to 2016
Published at: www.rigzone.com
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Michael LynchConsultantMichael E. Lynch
World Financial Crisis plus project complexity delay Shtokman
February 6, 2010
The Shtokman Development AG consortium announced on February 5 that it will delay the startup of the Arctic gas project. Natural gas will begin flowing to Europe in 2016. Liquefied natural gas (LNG) will start in 2017. It a delay of about 3 years. A final pipeline decision will be made in March of 2011 and an LNG plant decision by the end of that year. Total and Statoil are part of the consortium. Experts have questioned Gazprom's financial and technical ability to complete the project.
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