Russian state-owned Gazprom could begin the first development phase of the giant Arctic Shtokman gas field this week, following a two-month delay, writes Reuters.
The project, expected to cost $15bn at the first stage, will begin pumping 23 to 24 billion cubic metres of natural gas a year by 2013, with LNG deliveries expected in 2014.
Gazprom will own 51% of the firm while Total owns 25% and StatoilHydro 24%.
