Gazprom on Thursday signed a deal with StatoilHydro of Norway to develop the Shtokman natural gas field, dashing the hopes of U.S. energy companies of getting a stake in the giant Arctic project.
Under the deal, StatoilHydro was to get a 24 percent stake in the field's operating company, joining Total of France, which in July was granted the right to a 25 percent stake. Gazprom will retain majority control of the company, and will retain ownership of the field itself.
"We have giant reserves of gas in the Barents Sea, while our partners from Norway have good experience in production and transportation of gas in harsh Arctic conditions," said the Gazprom chief executive, Alexei Miller.
Gazprom, a state-run firm, shocked observers a year ago when it said it would develop Shtokman on its own, amid increasing signs of energy nationalism in Kremlin policy. It has since backtracked, allowing foreigners to develop a project seen as one of the world's most challenging.
Shtokman, once developed, is expected to be a prime future source of energy for Europe and North America.
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