Chevron wants quarter of Russia’s Shtokman gas field

Publish date: March 15, 2006

According to Trem Smith, president of Chevron Neftegaz Inc, Chevron is hoping to win as much as a quarter of Russia’s huge Shtokman gas project when Gazprom picks partners in April.

Chevron is one of the five firms shortlisted by Gazprom for the project, which involves developing the Shtokman gas field in the remote and iceberg-strewn Barents Sea to produce liquefied natural gas (LNG) for sale to the U.S. market, Mosnews reported. Each contender hopes to take part ownership of the vast field, which contains around 3.5 trillion cubic meters of gas. “We don’t expect more than 25 percent,” Trem Smith said.