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Gazprom’s gas reserve addition rates surpass production rates for 12 consecutive years

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Press Conference

 

Materials:

The Mineral and Raw Material Base Development. Gas Production. Gas Transmission System Development Press Conference was held in Moscow today in the lead-up to the annual General Shareholders Meeting. The Press Conference featured Vitaly Markelov, Deputy Chairman of the Management Committee, Oleg AksyutinVyacheslav Mikhalenko and Vsevolod Cherepanov, Members of the Management Committee and Heads of Departments, and Yury Lebedev, Deputy Head of Department, Head of Directorate.

It was noted that Gazprom had ensured that its gas reserve addition rates surpassed its production rates for as many as 12 consecutive years. In 2016, the Company added 457.4 billion cubic meters of gas to its reserves thanks to geological exploration conducted in Russia, as well as produced 419.1 billion cubic meters of gas. Gazprom leads the world in terms of explored А+В+С1 gas reserves, which reached 36.4 trillion cubic meters by the start of 2017.

Gazprom makes consistent efforts to develop the new gas production center in the Yamal Peninsula. Bovanenkovskoye, Yamal’s largest field, produced 67.4 billion cubic meters of gas in 2016, an increase of 5.5 billion cubic meters versus 2015.

The Company actively implements its strategic gas transmission projects, among them the expansion of the northern gas transmission corridor: in January 2017, Gazprom brought into operation the Bovanenkovo – Ukhta 2 gas pipeline. Construction of the Ukhta – Torzhok 2 gas pipeline continues. The Power of Siberia gas pipeline project in eastern Russia is ahead of schedule: over 1,000 kilometers of the pipeline’s linear section have already been welded.

In addition, the Press Conference touched upon other aspects of the Company’s operational activities.

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