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Russia to fulfil potential of its gas reserves of 68 trillion cubic meters — Deputy PM

To support the industry, Russia has tax incentives for new production projects, as well as hard-to-recover reserves, Alexander Novak noted

MOSCOW, October 3. /TASS/. Russia has gas reserves of about 68 trillion cubic meters, which is twice as much as Iran and three times as much as Qatar, the country will fulfill this potential, Russian Deputy Prime Minister Alexander Novak wrote in his column for the Energy Policy magazine.

"For Russia, it is important to effectively fulfil the resource potential of about 68 trillion cubic meters (which is twice as much as Iran and almost three times as much as Qatar), through the development of the raw material base, infrastructure, and LNG projects," he wrote.

To support the industry, Russia has tax incentives for new production projects, as well as hard-to-recover reserves, Novak noted.

"Special attention is paid to the program for the development of gas supply network, which is being implemented on the instructions of the President of the Russian Federation, and is gradually expanding. The transition of households and industrial enterprises to gas fuel allows us to achieve multiplier effects for the economy of the regions, including increasing efficiency and reducing production costs, stimulating private construction and making working and living conditions more comfortable for citizens," the Deputy Prime Minister added.

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Alexander Novak

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