Mongstad-a billion-dollar development owned jointly by the Norwegian government and three oil companies, Statoil, Shell and Sasol of South Africa-is a rare exception that has actually opened, hence the hoopla.
The rapid recent development of Shell Gas in the United States has also raised new questions about the prospects for selling Shtokman's gas and about the outlook for prices.
At the same time, the Anglo-Dutch energy giant Shell has reported profits more than doubled between July and September helped by high oil and gas prices.