16 February 2011

Shtokman Development AG will present to Murmansk Regional Duma proposals for improvement of investment climate in the region

On the 16th of February Kirill Molodtsov, Deputy CEO Shtokman Development AG, informed the deputies of Murmansk Regional Duma on the current status of the Integrated Development of the Shtokman Gas-Condensate Field Project.

Shtokman Development AG is actively working with the regional authorities. The joint working groups of Company and the regional government are successfully addressing the issues of project power supply, land use, environment and industrial safety, cooperation with local industrial enterprises, informational policy. The range of meetings in the regional parliament opens a new direction of cooperation.

— We are actively cooperating with the regional authorities, — said Kirill Molodtsov. — at the moment Shtokman Development AG is preparing proposals for the enhancement of legislature of Murmansk region in the area of development of state support to the investment activities allowing to ensure a mutually beneficial partnership of investors and the region.

— The members of the regional parliaments not only express their keen interest in the major investment projects but are also willing to take part in the legislative activities aimed at improvement of investment climate in the Murmansk region.

The magnitude of the Shtokman Project, complexity and unique character of engineering solutions applied in its implementation enable to model and establish the special investment conditions for its successful implementation also on the regional level.