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Gazprom to go it alone on Shtokman

October 9, 2006, 19:30 CEST

Russian energy group Gazprom has today stated in a press release that they will develop the Shtokman field without foreign partners.

The Shtokman gas will instead be piped to European markets.

Today's announcement by Gazprom was not expected. We will now discuss the implications of the announcement with Gazprom. We are confident that Statoil is a good partner for Russia in realising the Barents Sea potential. Statoil is still committed to a long-term presence in Russia and will continue to pursue business opportunities there.

Further information from:

Investor relations:
Lars Troen Sørensen, senior vice president for IR: + 47 90 64 91 44 (mobile), +47 51 99 77 90 (office)

Media:
Ola Morten Aanestad, vice president for media relations: + 47 48 08 02 12 (mobile), +47 51 99 13 77 (office)