The Gazprom Board of Directors took note of the information concerning the progress with the Shtokman gas and condensate field development project.

It was emphasized that the design and survey operations for the offshore infrastructure and the marine port with LNG storage facilities were to be completed between late 2013 and early 2014. The devised documents will be reviewed by corporate, state and environmental experts. Design work continues on onshore facilities.

The Management Committee was tasked to continue the project related activities and inform the Board of Directors about their progress in 2014.

Background

The Shtokman gas and condensate field is situated in the central part of the continental shelf within the Russian sector of the Barents Sea. C1 reserves of the field make up 3.9 trillion cubic meters of gas and 56.1 million tons of gas condensate. Gazprom holds the gas and gas condensate exploration and production license for the Shtokman field.