Gazprom in final stage of talks with Statoil and Hydro

Publish date: January 24, 2006

The Russian gas monopoly Gazprom is in the final stage of negotiations with the Norwegian oil majors Statoil and Hydro over participation at the Shtokman gas field in the Barents Sea.

The Russian-Norwegian deal will have an estimated value of 2 billion USD.

Statoil offers Gazprom a 10 percent stake in the “Snøhvit” field in the Barents Sea in return for the stake in Shtokman, while Hydro offers 10 percent in its “Ormen Lange” field, BarentsObserver reported. The Shtokman field enables Russia to supply 20 percent of Great Britain’s gas consumption by 2015.

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