Shtokman Partners May Ship LNG to Japan

The Shtokman project partners may sell liquefied natural gas (LNG) to Japan in the future, Gazprom CEO Alexey Miller has said.

"The Japanese market is the biggest LNG market in the world and considering the decision by the Japanese government to reduce nuclear power generation, the demand for LNG into Japan will only increase," Reuters reports Mr. Miller as saying.

"So of course LNG deliveries from the Shtokman field (to Japan) are being considered by the partners."

Japan is moving away from nuclear power following the Fukushima nuclear disaster in March last year which devestated Japan.

The three partners in the Shtokman field, located in the Barents Sea, are Gazprom, Total and Statoil. Gazprom holds the majority stake in the project at 51 per cent. Total holds a 25 per cent stake while Statoil holds a 24 per cent stake.