Shell may join Shtokman gas project in Russia's Arctic - sources

MOSCOW Fri May 25, 2012 5:23am BST

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MOSCOW May 25 (Reuters) - Royal Dutch Shell may join Russia's Arctic Shtokman gas project, with Gazprom keeping its majority stake, several sources told Reuters on Friday.

"Talks regarding Shell's participation in Shtokman are under way... There are different project configurations under discussion now but Gazprom will keep a 51 percent stake," a source close to the consortium told Reuters.

Gazprom sources said earlier this week that there could be a departure from Shtokman, where the Russian gas giant has partnered with Statoil of Norway and Total of France.

Total owns 25 percent, Statoil 24 percent and Gazprom the remainder of Shtokman, one of the world's largest gas fields with reserves of 3.7 trillion cubic metres located 550 kilometres (340 miles) offshore in the freezing waters of the Barents Sea. (Reporting by Olesya Astakhova, Writing by Katya Golubkova; Editing by Jacqueline Wong)

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