The Russian business newspaper Vedomosti has reported that the French oil and gas major Total is looking to gain a 20% share in the Gazprom-led Shtokman gas field development in the Barents Sea.

The newspaper carried an interview with Total’s president of exploration and production, Christophe de Margerie, in which he said that foreign participants in the project would probably aim for roughly a 20% share.

If Gazprom asked us about a share which we would like to get, I assume it might be up to 20%. If two foreign participants joint the project, then we can count for as much as 25%, but in fact 20% is a more probable share, Mr de Margerie is reported as saying.

Gazprom is set to take a majority share in the project of 51%, and then select two or three foreign partners to bring onboard. That selection will take place later this year, with four other overseas players apparently interested alongside Total.