OAO Gazprom, Russia's state-run gas company, said it will develop the $20 billion Shtokman field itself, spurning offers from five Western producers to exploit the country's biggest untapped natural-gas deposit.
Gazprom doesn't need ``international participation,'' Chief Executive Officer Alexei Miller said on state broadcaster Russia Today. Chevron Corp., ConocoPhillips, Norsk Hydro ASA, Statoil ASA and Total SA had bid to help develop Shtokman's 3.7 trillion cubic meters of gas, enough to supply the U.S. for more than five years.
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