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Gazprom plans to produce gas at some fields for another 110 years — CEO

According to Alexey Miller, Gazprom is the world leader in terms of gas reserves

MOSCOW, December 26. /TASS/. Gazprom plans to produce gas at some fields for another 110 years, there will be enough gas for many years, the company's CEO Alexey Miller said at a meeting on the preliminary results for the year.

"Gazprom is the world leader in terms of gas reserves. There is no doubt that our consumers will have enough for many, many years. At some fields we will produce gas until 2134 as part of their development projects. And this is just the beginning," Gazprom quoted Miller as saying.

He added that the key to this is the replenishment of the resource base. "For twenty years we have been ensuring that the ratio of reserve growth to production volume is above one. Of course, we cannot forget about the efficient development of existing reserves," Miller noted.

Earlier, Gazprom reported that it has the largest natural gas reserves in the world.

At a similar meeting two years ago, Miller said that production at some of Gazprom's fields would end in 2141 or even later, that the company's consumers would be supplied with gas for "many, many decades", and that Gazprom would continue to develop new gas production centers.