Gazprom increases share in Shtokman to 100%

Gazprom has increased its stake in Shtokman Development AG from 75% to 100% by acquiring shares from French company Total. The deal was concluded on July 7, Gazprom reports.

At the meeting of head of Gazprom Alexei Miller and head of Total Patrick Pouyanne on SPIEF 2015 it was agreed that Total would transfer 25% of Shtokman Development AG, established to develop the Shtokman field in 2008, to Gazprom. With the resumption of the Shtokman project, Gazprom may again invite Total in this project.

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