Head of “Shtokman Development AG” Structural Analysis and Regulatory Documents Development Department Timur Sabirzanov addressed a plenary session of the RAO / CIS Offshore conference in St. Petersburg.

He noted that the Project cost assessment will be presented to the shareholders in October 2011. In December shareholders plan to adopt the Final Investment Decision. Gas production at the Shtokman project is scheduled to start in the fourth quarter of 2016, the launch of the LNG plant — in the end of 2017.
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