News
Publish date: September 8, 2006
News
A shortlist of companies competing for the project unveiled last September includes Norway’s Statoil and Norsk Hydro, France’s Total, and U.S. giants Chevron and ConocoPhillips. Gazprom will select two or three partners from the shortlist to form a consortium for the project.
According to Igor Shuvalov, a Russian presidential aide, the Russian energy giant needs a partner that will help it "develop the field as successfully and beneficially as possible, with the lowest expenses, and which will supply products to the world market most effectively," RIA Novosti reports.
"This is a business project, and Gazprom is responsible for it. Therefore, I would not like to reveal any information on the issue," he said.
The deposit holds an estimated 3.2 trillion cubic meters of natural gas, and 31 million metric tons of gas condensate in the Barents Sea, off Russia’s Arctic coast. Some $12-14 billion will be invested in the project’s first phase, and production will start in 2011.
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Recent attacks on Ukraine’s Zaporizhzhia nuclear power plant "mark the beginning of a new and gravely dangerous front of the war," the UN atomic agency's director general said last week.
After years of inaction, Germany is working on its Carbon Management Strategy to resolve how CCS can play a role in climate action in industry. At the end of February, the Federal Ministry for Economic Affairs and Climate Action published first key points and a proposal to amend the law Kohlenstoffdioxid Speicherungsgesetz (KSpG). Bellona Deutschland, who was actively involved in the previous stakeholder dialogue submitted a statement in the association hearing.
In the midst of a global discussion on whether natural gas should be used as a transitional fuel and whether emissions from its extraction, production, transport and use are significantly less than those from other fossil fuels, Russia has developed ambitious plans to increase its own production of liquified natural gas (LNG) in the Arctic – a region with 75% of proven gas reserves in Russia – to raise its share in the international gas trade.