MOSCOW, June 24 (RIA Novosti) - French Total and
Russian independent gas producer Novatek are expected to
implement a $1 billion project to develop a gas condensate
project in northwest Siberia, Prime Minister Vladimir Putin
said on Wednesday.
The project will establish a joint venture to develop the
Thermokarst gas field on the Yamal Peninsula, Putin said at a
meeting with the heads of both companies.
Investment in the initial stage will total $20 million,
the premier said, adding that the government would back Total's
participation in the project.
"The very fact that we are meeting here suggests that
we'll be supporting such projects," Putin told Total's chief
executive, Christophe de Margerie.