Kuwait collection for Petrofac
UK contractor Petrofac has collected a new contract with Kuwait Oil Company for work on new oil and gas pipelines.
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Shtokman already three years late
Published 09.11.2007 10:40:52 by John Bradbury
Development of the Shtokman field is already three years behind schedule from the projected first gas date in 2013 according to a US based research organisation quoted by Russia’s Moscow Times.
Wealth consultancy Sanford Bernstein & Co. said Thursday that Gazprom and Total will start pumping gas from the arctic field in 2016, three years later than originally estimated, the Moscow Times reported.
Although the Bernstein report said that Gazprom regarded the arctic as one of its most prospective regions, it added: “Critics will argue that this project is technically impossible due to the remote Arctic Circle location.”
However the project’s geographical location helps the LNG element of the first phase of development by allowing easy and low cost transit of gas to US markets at the lowest shipping cost with the exception of Trinidad and Tobago LNG.
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