Putin hails launch of Gazprom's new Bovanenkovo gas deposit on Yamal Peninsula

The Russian president Vladimir Putin praised the technological achievement in exploiting the giant deposit. He called the launch a 'momentous event' with the Bovanenkovo field 'one of the most important and largest gas fields in the country'.

He told at a video conference: 'The launch of the new field today will make it possible to increase gas production substantially - by 50 percent, to 90 billion cubic metres of gas per year. Such a rise in gas production will certainly enhance energy security not only in the region but also in the whole country, and will allow, if necessary, to increase the export of our energy resources to consumers.

'I know that over the past two years a great deal of work was done in very harsh climatic conditions to bring the first fields into operation, build hundreds of kilometres of pipelines and pumping stations. All of these facilities involve the use of high technology, new cutting edge technological solutions'.

Scheduled to reach annual output of 115 billion cubic metres of natural gas in three years. Pictures: Yamal Government 

The Bovanenkovo gas condensate deposit has proven reserves of almost 5 trillion cubic metres; this is the second field on the deposit. Production initially began in October 2012.

Gazprom CEO Alexei Miller said modern domestic technologies introduced at the Bovanenkovo gas deposit had proved their efficiency.

The Bovanenkovo-Ukhta gas pipeline system is helping create capacities for gas exports to China from Nadym, the gas extraction's main centre.

'Therefore, gas supplies to China will be carried out not only along the eastern route but also along the new western route of deliveries from Western Siberia',he said.

The Bovanenkovo gas condensate deposit is scheduled to reach annual output of 115 billion cubic metres of natural gas in three years and eventually 140 billion cubic metres a year, he added.