Gazprom to tap new gas fields to pump gas to Asia and Europe
Russia's President Vladimir Putin, right, speaks with Gazprom CEO Alexei Miller at Novo-Ogaryovo near Moscow, 29 October 2012. | AFP PHOTO/RIA-NOVOSTI POOL/ALEXEI NIKOLSKY
During a meeting with Russian gas monopoly Gazprom head Alexei Miller on 29 October, Russian President Vladimir Putin approved a plan to invest tens of billions of dollars to tap a new natural gas field in Siberia and build a new pipeline to the country's Pacific coast for exports to Asia as part of Russia’s efforts to tap into the lucrative markets in the Far East.
Huge gas supplies in the Chaynda and the Kovykta fields – of Russia’s Yakutia and Irkutsk region – will be enough to set up an export centre oriented for the Asia – Pacific region, Vedomosti newspaper quoted Putin as saying.
At Putin's Novo-Ogaryovo residence outside Moscow, Miller briefed Putin on prospects of tapping Chaynda deposit, saying that the field is estimated to hold 1.2trl cubic metres of gas.
He said Gazprom plans to build a 3,200-kilometre pipeline linking the field with Russia's Pacific port of Vladivostok. Miller said Gazprom would need to invest 430 billion rubles ($13.7 billion) to develop the field and 770 billion rubles ($24.4 billion) to build the pipeline by 2017.
Gazprom is planning to build a liquefied natural gas plant (LNG) in the Vladivostok region for exports to Pacific nations.
“In the near future we’ll be able to set up gas export capacity comparable with deliveries to Europe or maybe even exceeding them,” Miller said.
As part of its eastward expansion, Gazprom is also planning to build a Pacific-bound pipeline from Kovykta, which is estimated to hold 2.5trl cubic metres of gas, he said.
Miller said Gazprom is considering agreements to deliver 68bn cubic metres of gas to China, as well as 10bn cubic metres to Korea. China could also start buying gas from Russian Siberia.
But Russia is also planning to develop gas supplies targeted for Europe. On 23 October, Putin presided by video link over the launch of Gazprom's giant Bovanenkovo field on the Arctic Yamal Peninsula. Gazprom has started to develop the giant Bovanenkovo field in Yamal. From Bovanenkovo, gas will enter Russia's trunk network and be pumped on to Europe. Gazprom said on 30 October that investment will be increased for the trunkline systems construction.
Meanwhile, Gazprom said on 30 October it increased this year's investment programme by 198 billion roubles to 974.65 billion roubles ($30.98 billion). Capital investments will total 890 billion roubles. NEW EUROPE
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