LNG

March 19 (LNGJ) - Gazprom Chairman Alexei Miller and Statoil Chief Executive Helge Lund met in Moscow to discuss the stalled Shtokman LNG and natural gas project. "The parties discussed cooperation issues on launching the Shtokman field Phase 1 pre-development," Gazprom said. The Shtokman field is situated in the central part of the Russian sector of the Barents Sea. Reserves are estimated at 3.9 trillion cubic metres of natural gas. Gazprom said the Shtokman field development project was still of strategic importance. Four years ago, Statoil and France's Total signed a shareholders agreement to establish Shtokman Development AG , a special purpose vehicle to implement Phase 1 of the project. Gazprom holds 51 per cent of the company, while Total and Statoil hold 25 and 24 per cent respectively.