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Gazprom says Shtokman 2008-09 budget over $800 mln

  Shtokman Development AG, controlled by Russia’s gas export monopoly Gazprom, has confirmed the budget for its Arctic Shtokman project at over $800 million for 2008-2009, Gazprom said on Monday.

 

Gazprom said Shtokman Development discussed the budget of one of the world’s biggest offshore gas projects at its board meeting in Switzerland on Monday. Gazprom controls 51% of Shtokman Development, while France’s Total and Norway’s StatoilHydro hold 25% and 24% respectively. (Reuters)