Russia’s gas giant Gazprom sees no prospects for the development of the Kovykta gas field, as it expects no high demand for this gas both on the domestic and foreign markets, the head of the company’s Eastern Projects Coordination Department, Viktor Timoshelov, told a news conference on Monday.
The property of RUSIA Petroleum that owns the license for the development of the Kovykta gas field, will be put on sale following bankruptcy, the Prime-Tass business news agency said.
The Kovykta gas condensate field is located in the Irkutsk region, 450 kilometres northeast off Irkutsk. The field’s gas reserves are estimated at 1.9 trillion cubic meters, 2.5 billion cubic meters of helium and 115 million tonned of liquid gas condensate.
The project for the Kovykta gas field development stipulated the construction of a 550 km gas pipeline en route Kovykta-Sayansk-Angarsk-Irkutsk, of gas distribution and helium plants.