Total writes off Shtokman investment

Shtokman: French oil and gas company Total has written off its $320m investment in the project to develop the Shtokman field in the Barents Sea. The decision was taken after Gazprom, its partner in the project, announced that it was to postpone further development on the grounds that extracting gas from the field’s estimated reserves of 3.6 trm³ was likely to prove unprofitable. Lenta