OREANDA-NEWS. November 15, 2007. The Gazprom Management Committee took notice of progress with “Investment Rationale for Comprehensive Development of the Shtokman Gas Condensate Field”.

The Management Committee tasked the core business units with elaborating the project of the comprehensive development of the Shtokman gas condensate field in the aim of commissioning it in 2013.

Alexey Miller, Chairman of the Gazprom Management Committee moderated a meeting dedicated to execution of Phase 1 of the Shtokman field.

Attending the meeting were the Members of the Management Committee, heads of the Company’s core business units as well as Sevmorneftegaz.

The participants discussed major issues related to implementation of Phase 1 of the Shtokman field. Particularly, the meeting addressed issues on setting up a special-purpose company to manage engineering, financing, construction and exploitation of installations at Phase 1.

The participants decided to establish the special-purpose company not later than December 20, 2007. The company’s management board must be also established during the said time period.

The core business units and Sevmorneftegaz were tasked to provide execution of the Shtokman project pursuant to the schedule, which provides synchronized start-up of gas production and supply via the pipeline as well as LNG production.