Nicolas Sarkozy had expressed the willingness of French companies to invest in Gazprom.
Total does not plan to acquire a stake in the Russian giant Gazprom, the director of the Franco-Belgian oil company, Christophe de Margerie, declared today.
A few hours earlier in Moscow, French President Nicolas Sarkozy had expressed the willingness of French companies to invest in Gazprom.
In response to questions from the press at a conference in Paris, Total's chief executive indicated that the oil company is not part of those companies and said he was unaware that Gazprom had requested to acquire a stake in them.
Furthermore, De Margerie expressed hope that the conflict between the Government of Kazakhstan and the Italian oil company Eni over increased costs and the postponement of exploitation in the Kazakh field Kashagan would be resolved before the end of the year.
Kazakhstan suspended work on August 27 at Kashagan, the country's largest oil field, for three months due to alleged violations of environmental legislation by the operating consortium Agip KCO (Agip Kazakhstan North Caspian Operation Company), of which Total is a part.
The real reason for the conflict, according to analysts, lay in Eni's announcement that it was increasing the cost of the project from $57.000 billion to $136.000 billion and that commercial production at Kashagan would be delayed from 2008 to 2010.
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