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Gazprom reviews Barents Sea developments

June 19, 2013 at 6:42 AM

MOSCOW, June 19 (UPI) -- Directors at Russian energy company Gazprom said work was under way on designs for liquefied natural gas terminals tied to the Shtokman field.

Last year, partners to Shtokman -- Gazprom, Total and Statoil -- postponed investment decisions on the project in part because of market considerations brought on by shale natural gas developments in the United States.

The board of directors at Gazprom said they reviewed the progress of the field during their latest meeting in Moscow.

"It was emphasized that the design and survey operations for the offshore infrastructure and the marine port with LNG storage facilities were to be completed between late 2013 and early 2014," a company statement said Tuesday. "Design work continues on onshore facilities."

Preparation for front-end engineering and design documents should be released as early as next year.

The field, which is in the Barents Sea, has an estimated 134 trillion cubic feet of gas. Gazprom said some gas was designated for markets in the Atlantic basin, including the Nord Stream pipeline to Germany.

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