27 jul: Carlsberg-aktien skummer over på russiske rygter og teknik
27 jul: Fredagens aktier: C20-indekset i højeste niveau siden 2007
27-07-2012 16:25:00

Gazprom/Shtokman Deal Ended July 1 But Total Still Interested -CFO

Relateret indhold

By Geraldine Amiel and Inti Landauro

PARIS--The Shtokman joint venture agreement between French oil company Total SA (TOT) and Russian peer OAO Gazprom terminated on July 1 though Total is still interested in playing an active role in the gas project, the French company's chief financial officer Patrick de la Chevardiere said Friday in a conference call held to discuss the company's second quarter profits.

Last month, officials from Gazprom surprised Total saying they were considering changing its partners in the development of what is one of the world's largest natural gas fields. Gazprom officials had said the other partner, Norway's Statoil ASA (STO), was also to leave the joint venture.

Total used to hold 25% in the Shtokman joint-venture.

Gazprom has been trying to develop the Shtokman field for more than 20 years, and sealed a partnership with Total and Statoil with that purpose. The consortium has already spent millions of dollars on studies and plans for the extraction and liquefaction of natural gas there under the extreme weather conditions.

The complexity of the project due to technological challenges in such extremely cold conditions and precipitously low gas prices as well as the emergence of the U.S. as a gas exporter has called the financial viability of the plans into question.

Mr. de la Chevardiere said Gazprom was now free to decide who will be its partners in the Shtokman project.

He added that his company is currently negotiating a settlement with the U.S. Department of Justice following an investigation into gas contracts with Iran. He also said Total's activities in Yemen are back at full production and the operation in the Elgin gas field in the North Sea, which was disrupted earlier this year due to a leak, will gradually reach normal levels by December.

Shares of Total were up 3.1% to 37.22 euros ($45.78) at 1347 GMT.

-Write to Inti Landauro and Geraldine Amiel at geraldine.amiel@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 27, 2012 10:25 ET (14:25 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Carlsberg: Russisk ølproduktion fortsætter i bakgear

22-05-2015 16:33:25
Carlsberg og de øvrige bryggerier på det russiske ølmarked fortsætter med at holde igen med ølbrygningen i landet. Således faldt ølproduktionen i Rusland med 7,..

Novo: Ny fusion styrker købersiden ved forhandlingsbordet

22-05-2015 14:15:45
Medicinalselskaberne kan formentlig se frem til endnu sværere prisforhandlinger fremover i USA. Modparterne ved forhandlingsbordet, de såkaldte Pharma Benefit M..

Aktier/åbning: Zealand i rødt efter regnskab

22-05-2015 09:18:44
Det danske C20 Cap-indekset starter med bevægelser fra side til side i niveauet 1.016 fredag morgen på en dag, hvor Zealand Pharma - uden for eliteindekset - er..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

Total 47,55 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2015  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
26. maj 2015 05:32:19
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20150519.1 - EUROWEB1 - 2015-05-26 05:32:19 - 2015-05-26 05:32:19 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x