Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

No Shtokman Deal Expected This Year

Gazprom may delay a decision on choosing foreign partners to develop the Shtokman offshore natural gas field until the end of the year, Kommersant said Friday, citing the head of the company's oil unit.

The paper quoted Gazprom deputy chairman Alexander Ryazanov as saying the monopoly had set no exact dates for choosing companies from a shortlist of five and that it had until the end of the year to decide.

An unidentified Kremlin source also said a decision may be delayed until then, Kommersant reported.

France's Total, Norway's Statoil and Norsk Hydro, and U.S. companies Chevron and ConocoPhillips are on the shortlist. A decision on choosing two or three of them had been expected by October.

Kommersant quoted Ryazanov as saying all the companies on the list had good chances in taking part in development of the field, which has reserves of 3.7 trillion cubic meters of gas.