Shtokman Hopes for Loans to Start Gas Project

MOSCOW (AP) — The operator of the Shtokman natural gas field hopes most of the financing to develop the huge Arctic field will come from loans if the global credit crisis eases next year, Russian news agencies reported Monday.  Shtokman Development, controlled by Russia’s Gazprom and co-owned by France’s Total and Norway’s StatoilHydro, is to start production at the Barents Sea field in 2013.

To read the full story by the Associated Press, click here.

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