Ria Novosti: Statoil Proposes 10% Cut to Shtokman Project Cost
Norway's Statoil energy firm, a 24 percent shareholder in the big Shtokman gas project, is proposing a ten percent cut to project costs to make it more competitive in the global marketplace, Executive Vice President Peter Mellbye said on Monday.
The participants of the project, including Russian gas giant Gazprom with a 51 percent stake and France's Total which has 25 percent, are looking to boost profitability as the project moves towards final investment decision, Mellbye told Russia Today international news TV channel. MORE