Gazprom rejects all bids for $20B Shtokman project; gas to Europe, not U.S.
For Petroleum News
15 October 2006
Russia has rejected assistance from some of the world’s most experienced offshore players, including U.S. majors ConocoPhillips and Chevron, to help develop its giant $20 billion Shtokman gas project on the Russian side of the Arctic Barents Sea.
More troubling for U.S. energy markets are reported plans that Russia gas monopoly Gazprom now intends to use Shtokman gas exclusively to supply the North European Gas Pipeline to Europe, rather than liquefying it into LNG for export to America, as previously planned.