Total says Shtokman decision delayed until end-2010
MOSCOW |
MOSCOW Dec 8 (Reuters) - A final investment decision on Russia's giant Shtokman gas field is impossible before the end of 2010, nine months later than planned, due to problems with financing, project member Total (TOTF.PA) said on Tuesday.
"In the current conditions, it is absolutely normal that the project is taking more time than was initially planned," said Arnaud Breuillac, Total's vice-president for exploration and production in Central Europe and Continental Asia.
Shtokman, whose first phase is estimated to cost $15 billion, is led by Russian gas export monopoly Gazprom (GAZP.MM) with Total and Norway's Statoil (STL.OL) holding minority stakes. (Reporting by Anton Doroshev)
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