Shtokman move 'faces further delay'

Hanging: at Shtokman

AFP PHOTO DDP/PATRIK STOLLARZ

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By Steve Marshall and news reports

 29 February 2012 10:51 GMT

A final investment decision on Russia’s Shtokman project reportedly could be delayed by a few more months from the 1 April schedule, posing the risk that first gas could be further postponed.

The giant Arctic gas field development in the Barents Sea remains stalled as the foreign partners in the Gazprom-led Shtokman Development consortium, Statoil and Total, are holding out for tax breaks from the Moscow government that they claim are necessary to make the project commercially viable.

An investment decision on the $20 billion first phase of the project, originally due by the end of last year, was recently postponed until 1 April but may not now be taken before the summer, sources close to Gazprom told Russian-language Moscow News, cited by the…

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