OAO Gazprom (GAZP.RS) will spend 1.2 trillion rubles ($38.4 billion) launching a gas field and pipeline to Vladivostok in the country's far east by the end of 2017, Interfax quoted the company's chief executive as saying Monday.
OAO Gazprom (GAZP.RS) will spend 1.2 trillion rubles ($38.4 billion)
launching a gas field and pipeline to Vladivostok in the country's far east by
the end of 2017, Interfax quoted the company's chief executive as saying
Monday.
Gazprom said in September that it would speed up plans to boost shipments east
after the European Commission open an anti-trust investigation into the
company's practises in central and eastern Europe.
The company's Cheif Executive Alexei Miller told President Vladimir Putin that
the company would spend RUB430 billion launching the Chayanda field in Russia's
far east and RUB770 billion on a pipeline to Vladivostok on the Pacific coast.
Mr. Putin said that developing Chayanda--which holds around 1.3 trillion cubic
meters of gas and another giant field, Kovytka, is the next stage of
Russia
's
Eastern Gas Program.
"I want to remind you that we agreed that the gas from these fields will
primarily go for domestic needs, for domestic use," he told Mr. Miller,
Interfax reported. "But considering the huge reserves...we can also create
separately a center for export, oriented toward the Asia-Pacific region."
Russia
and
Japan
in
September signed a deal to develop a liquefied natural gas plant in
Vladivostok
. Mr.
Miller said Monday that the plant would cost around RUB220 billion and be completed
by 2018. He said it would have a capacity of at least 10 million metric tons a
year.
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