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Gazprom Doesn't Give Foreigners Gas
Gazprom's proposal for cooperation with foreign companies at the Stockman deposit became known yesterday. The foreign companies can receive a share in the operating company that owns the infrastructure, but not the license of any natural gas. The foreigners have not reacted yet to the proposal, with the exception of Chevron, which refused it.
A Gazprom executive who did not wish to be identified told journalists at the fifth “The Russian Thermal-Electric Complex in the 21st Century” conference how the monopoly plans to create partnerships with foreign companies. Six months ago, Gazprom officially refused the foreign companies access to mineral resources in the project, that is, refused them a share in Sevmorneftegaz, which holds the license to the deposit.
“The foreign companies are being offered a share in the operating company that will “ own the production and transport infrastructure for the production of 23 billion cu. m. of gas per year and pump the raw material through a gas pipeline more than 600 km. as well as the plant for liquefied natural gas,” the executive explained. “Gazprom will receive a controlling package in that company, at the minimum.”
The reserves of the Stockman deposit in the Barents Sea are estimated at 3.7 trillion cu. m. of natural gas and 31 million tons of gas condensate. The cost of the infrastructure is estimated at $10-14 billion.
Gazprom head Alexey Miller is discussing the new proposal with potential foreign participants in the project now. He met with Total president Christophe de Margerie this week, but no results came of that meeting.
Alfa Bank's Dmitry Lukashov pointed out that implementing the plan will be difficult because of US GAAP auditing rules. “Similar plans in Ukraine could not be implemented because the auditors did not approve,” he noted.
Aside from Chevron, no foreign companies have responded to the proposal. Gazprom acknowledges that it began negotiations with its potential partners (the French Total, Norwegian Hydro and Statoil and American ConocoPhillips) a month ago and still does not know what companies will participate in the project.
www.kommersant.com
All the Article in Russian as of Apr. 05, 2007
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