Conoco, Gazprom Signed A Deal

US oil company ConocoPhillips and Russia?s natural gas monopoly Gazprom on Wednesday have signed a memorandum of understanding on the jointly development of the Shtokman gas field in the Barents Sea, the US company said.

Under the agreement, the United States and other Atlantic countries would be export targets for the gas from the giant Stockman field, estimated to hold more than 100 trillion cubic feet of gas.

Gazprom has signed such agreements with numerous companies already including Norweigan energy companies, Norsk Hydro and Statoil ASA.