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Putin gives start to major Arctic gas field development project

December 22, 2014, 19:10 UTC+3 MOSCOW
The launch of new gas extraction capacities at Bovanenkovo, the largest gas deposit on Yamal Peninsula, will help increase local gas production by 50% to 90 billion cubic meters, Putin said
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© ITAR-TASS/Stanislav Krasilnikov

MOSCOW, December 22. /TASS/. Russian President Vladimir Putin took part in a video conference on Monday to launch Gazprom’s gas field No. 1 at the giant Bovanenkovo deposit on Russia’s Yamal peninsula in the Arctic.

The Bovanenkovo gas condensate deposit with proven reserves of almost 5 trillion cubic meters was put into operation in October 2012.

With the launch of gas field No. 2 in 2013, the Bovanenkovo deposit produced 22.8 billion cubic meters of natural gas. This year, Gazprom plans to produce 38.4 billion cubic meters of natural gas at the deposit.

The launch of new gas extraction capacities at Bovanenkovo, the largest gas deposit on Yamal Peninsula, will help increase local gas production by 50% to 90 billion cubic meters, Putin said at the launch ceremony.

“We know that today’s launch of the production capacities into operation will help seriously increase output — by 1.5 times to 90 billion cubic meters of gas annually,” the president said.

The expansion of gas output in Russia at such a pace will increase energy security not only in the region but also across Russia and help boost energy exports, he said.

Gazprom CEO Alexey Miller said modern domestic technologies introduced at the Bovanenkovo gas deposit had proved their efficiency.

The Gazprom head also said the Bovanenkovo-Ukhta gas pipeline system is helping create capacities for gas exports to China from Nadym, the gas extraction’s main center.

“Therefore, gas supplies to China will be carried out not only along the eastern route, but also along the new western route of deliveries from Western Siberia,” Miller said.

The Bovanenkovo gas condensate deposit is scheduled to reach annual output of 115 billion cubic meters of natural gas in three years and eventually 140 billion cubic meters a year, he said.

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