Shtokman Partners to Make Final Decision in March

摘要

The final cost and timetable of the multibillion- dollar scheme to develop the massive Shtokman gas field in the Barents Sea will be decided in the first quarter of 2010, Shtokman Development Co. (SDC) Managing Director Yuri Komarov says. The global financial crisis has already produced a change in funding arrangements for the project, in the Russian Arctic. A total of 40% of the costs will now have to be borne by the partners, up from 30% originally, with the rest to be borrowed from banks, Komarov told reporters on the sidelines of the CIS Oil and Gas summit in Paris this week.