News

24 November 2010

Shtokman Development AG Board of Directors discussed the progress of arrangements for making the Final Investment Decision on the Shtokman Project Phase 1

During the meeting held in Zurich JSC Shtokman Development AG Board of Directors discussed key issues with regard to preparatory arrangements for making the Final Investment Decision (FID) on the Start-Up Pipeline Gas Supply Complex and the LNG Complex.

At the meeting the company’s directors discussed and approved an operating schedule, work programme and budget of Shtokman Development AG for the period until the FID making.

According to the operator’s chief executive officer A. Zagorovsky, the next-year end term for making a FID on the liquefied gas production, approved by the Board of Directors, is “the deadline as today there are no obstacles to make a decision in December 2011”.

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