Gazprom (GAZP.RS) may choose to delay its huge Shtokman gas condensate field indefinitely, Alfa Bank says following news development of the field may be postponed depending on market conditions. "I wouldn't be surprised if they decide to put off Shtokman indefinitely," says Chief Strategist Ron Smith.
Final investment decision due in May, 2010. Says Gazprom will be able to cover rising European demand without developing Shtokman. Alfa rates Gazprom over weight with $27.0 target price. GDRs in London +0.9% at $20.47. (JGP)