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CHEREPOVETS, September 5 (Itar-Tass) — All the decisions related to investment in the construction works under phase one of the Shtokman offshore field project will be taken before the yearend, Prime Minister Vladimir Putin said Monday as he addressed a conference of the United Russia party members living in Russia’s Northwestern Federal District.
He indicated that the country’s major producer and exporter of natural gas, Russian gas major Gazprom, was compelled to suspend works at the Shtokman gas and condensate field owing to an unfavorable market situation.
“Yet we are not going to shelve this project,” Putin said. “All the decisions on investing in its first phase should be taken before the end of this year.”
He indicated that the implementation of phase one might be over in the third or fourth quarter of 2016.
As for the commissioning of a gas liquefaction plant, is has been scheduled for 2017.