Gazprom concedes Shtokman work could slow if energy prices fall
ST. PETERSBURG. Sept 15 (Interfax) - Gazprom has conceded that the pace of work at the Shtokman gas condensate field could slow in the event that the situation on global commodity markets worsens, Gazprom Deputy CEO Valery Golubev said at a conference on the development of the Russian continental shelf in St. Petersburg on Tuesday.
"Naturally, the situation with demand for raw gas on the market could indeed have an impact" on the possibility of a delay in the field's opening, he said.
Adjustments could be made to the project if prices decline to levels making production at the field unprofitable, he said. "We'll simply slow the pace of work. Nobody is planning to freeze the project," he said.