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Strained U.S.-Russian Relations May Impact U.S. Involvement in Shtokman

Today’s World Gas Intelligence reports that the recent escalation of tensions between the United States and Russia may negatively impact chances for Chevron and ConocoPhillips to participate in the Shtokman LNG venture in Russia. The strained relationshi
May 16, 2006

Today’s World Gas Intelligence reports that the recent escalation of tensions between the United States and Russia may negatively impact chances for Chevron and ConocoPhillips to participate in the Shtokman LNG venture in Russia. The strained relationship partially stems from U.S. allegations that Russia is using its vast gas reserves to expand its preeminence in the global natural gas market. Moreover, Russia maintains that U.S. officials are hampering Russia’s efforts to become a member of the World Trade Organization. According to WGI’s source, Russia may use Shtokman as leverage in its bid to enter the WTO, adding that if Russia is not admitted to the WTO before the July G8 meeting, the likelihood for U.S. involvement in the Shtokman project may diminish. [Subscription required]

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