Putin tries to save Shtokman gas project by promising "favourable tax conditions"

The game is soon over for Putin´s  corrupted  KGB  led regime

Vladimir Putin and Gazprom - the government (Putin) controlled energy company that is the backbone of Putin´s corrupted empire - are well aware of the fact that the US led shale gas revolution has totally changed the international energy game. Still, the Russians do not seem to fully understand that their energy hegemony project has failed.

The giant Shtokman gas project will never be profitable, even with the tax reductions the ever more desperate Putin now is promising as a form of artificial respiration:

Russian Prime Minister Vladimir Putin has reassured the chief executives of France’s Total SA (TOT) and Norway’s Statoil ASA (STO) that favorable tax conditions will be created for the giant Shtokman gas project in the Barents Sea.

“We have taken several tax decisions at the federal and regional levels (…) that will create favorable conditions for implementing the Shtokman project,” Putin said at a meeting in Moscow with Total’s Christophe de Margerie and Statoil‘s Helge Lund, according to a transcript on the government website.

The meeting took place after the Shtokman shareholders–Total, Statoil and Russian state gas firm OAO Gazprom (GAZP.RS)–had decided to postpone a final investment decision for the fourth time until July 1.

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The "flawless democrat" with his German  servant

With the failure of Shtokman, Putin´s and his German henchman, former chancellor Gerhard Schröder´s Nord Stream will also turn out to be a huge - and expensive - mistake. (But it has of course been a personal gold mine for comrade Schröder, who still calls Putin a "flawless democrat").