Total sells its 25% to Gazprom

French company Total withdrew from the Shtokman project by selling its 25% in Shtokman Development AG to Gazprom.

Now the Russian gas corporation owns all 100% shares. The corresponding transaction was carried out on July 7.

Originally Gazprom owned 51%, Total - 25%, and Statoil - 24%. This investment agreement expires in the summer of 2012 and was not extended, Gazeta.ru reports.