Russian gas monopoly OAO Gazprom (GAZP.RS) officially launched a new gas field, Bovanenkovo, in the Arctic peninsula Yamal Tuesday, designed to boost the company's overall capacity and ensure shipments to Europe .

Gazprom, which supplies Europe with around one third of its needs, says that projected production at the Bovanenkovo field will amount to 115 billion cubic meters of gas a year and in the longer term is set to reach 140 billion cubic meters.

Gazprom said on its website that trial deliveries of gas from the Bovanenkovo field, with projected reserves of 4.9 trillion cubic meters, started in June 2012. Although the official opening of the field was postponed until October.

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