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Tag: gas field

  • Shtokman decision in December

    Shtokman decision in December

    Shoktoman

    A final investment decision for the megaproject in the Shtokman gas field is expected in December. The Shtokman field is located 550km offshore Russia in the Barents Sea.

    The estimated price tag of development will be presented in next month to the investors.

    It is believed to be one of the largest gas fields but the project has already been delayed. The partners in the Shtokman project – Norway’s Statoil, France’s Total and Russian gas export monopoly Gazprom – have delayed pipeline gas production from Shtokman until 2016 instead of the originally planned 2013.

    It is expected to require some $15 billion of investment in its first phase alone, according to the BarentsObserver.

    The field, which contains 3.9 trillion cubic metres of gas and 56 million tonnes of condensate, is 550 km offshore at a depth of 340 metres, was discovered by the Soviet Union in 1988 and its start-up has been repeatedly delayed due to problems with financing and the lack of transport infrastructure in place.

  • Gas pipeline to the Barents Sea?

    Gas pipeline to the Barents Sea?

    Snohvit gas fields

    The only gas field in the Barents Sea could soon be connected to the mainland. Snøhvit gas field is so promising; Norway could extend its current pipeline system to get the gas on shore, but only if other areas for gas production can be found.

    Huge LNG tankers are used to transport the gas to the markets in Europe and USA, but a new pipeline would be a revolution.

    Norway’s Foreign Minister Jonas Gahr Støre says that this is a possibility, but underlines that the need for more areas to be found are crucial.

    With Russia also planning to extend its pipeline system, some kind of cooperation between the countries has also been discussed.

    Research in the Barents Sea aimed to find gas have been promising in recent years. The cost and time for transport will encourage both Russia and Norway to react
    and the pipelines might be a necessity in a few years time.


    LNG tanker, used for gas transport (From BO news)