Total can exchange its share in Shtokman for a share in Baltic LNG

Total wants to exchange its 25% share in Shtokman Development AG (the operator of the first stage of the Shtokman field in the Barents Sea with reserves in the amount of 3.9 trillion cubic meters of gas) for a share in Gazprom’s other project, people, who are close to both parties of the negotiations, told Vedomosti. According to one of them, Total hopes for a solution,Gazprom’s project Baltic LNG is among the variants. But the company, he says, is interested in a project to liquefy its gas there and would like to have a share in the extracting project too.

A person, who is close to Gazprom notes that exchange of the Total’s share in Shtokman for the share in Baltic LNG looks possible. They don’t talk about it, Gazprom opposes such scheme, Total can take part in the project equally with others, another employee of Gazprom affirms.