About the company
Shtokman Development AG is a joint venture registered on 15th of February 2008 for financing, design, construction and operation of the first phase Shtokman gas condensate field development.
PJSC Gazprom holds 100% of Shtokman Development AG shares.
The Company Headquarters is located in Zug, Switzerland. Company branches are opened in Moscow, Teriberka village, Murmansk region.
Shtokman Development AG will be the owner and the operator of the first phase infrastructure of the Shtokman gas condensate field for 25 years after its commissioning.
Phase 1 of the development will provide production of 23.7 billion cubic meters of natural gas per annum.
Shtokman gas condensate field lies in the centre of a shelf zone of the Russian sector of the Barents sea about 600 kilometers northeast from Murmansk. Sea depth in that area of the Barents sea reaches 340 meters. By explored natural gas reserves Shtokman today is one of the worlds largest fields. The deposit holds C1+C2 reserves of 3.8 trillion cubic meters of gas and around 37 million tons of gas condensate.