History

Shtokman Development AG is a joint company founded to implement Phase 1 of the Shtokman gas condensate field.

Shtokman Development AG was founded on February 15, 2008 for the design, financing, construction, and operation of Phase 1 facilities for the Shtokman gas condensate field. The company will own the Phase 1 infrastructure for 25 years after the field is commissioned. Gas produced under the project will be marketed by Gazprom LLC.

As the Shtokman project operating company, Shtokman Development AG will bear all the financial and engineering risks associated with the natural gas recovery and LNG production.

The company is headquartered in Zug, Switzerland.

Company offices have been opened in Moscow, and the village of Teriberka in Murmansk Oblast.