Total CEO Christophe de Margerie said that the French group is participating in a new tender process launched by Gazprom to develop a gas field in Shtokman, Russia, calling the project "absolutely strategic" given global demand for gas.
Speaking at the opening of a refinery at Gonfreville L'Orcher, northern France, de Margerie said that Gazprom is maintaining a tender process but "under a different form to the previous one."
The CEO said Total had submitted an initial response to the tender before March 12 as required by Gazprom, adding that "I don't know yet what the next step is."
Russian gas giant Gazprom had announced on Oct 9 that it would develop alone the Shtokman gas field, after attracting interest from five foreign oil companies.
The Russian authorities subsequently said that foreign participation was not ruled out, leading Total to state it was still willing to participate in the project.
"We consider it to be an absolutely strategic project, in view of the gas reserves and the demand for gas in Europe and worldwide," Christophe de Margerie said.
The other oil majors that were candidates last year to develop the Shtokman field are Norway's Statoil and Norsk Hydro, and US groups ConocoPhillips and Chevron.
(AFX News, 15/03/2007)