Gazprom Selects StatoilHydro as Second Partner in Shtokman Project Development

Russian gas company Gazprom announced this morning that it has selected Norwegian firm StatoilHydro to join French firm Total in co-owning the company developing and operating the Shtokman gas field. According to Bloomberg, StatoilHydro, which will own 24% of the operating company, previously had offered part of its capacity at Cove Point LNG in Maryland as part of the Shtokman negotiations, although StatoilHydro CEO Helge Lund noted that an exchange of assets was not part of recent negotiations.

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