The Russian natural gas monopoly Gazprom outlined ambitious and costly plans to develop new production and exports hubs in the country’s Far East. Meanwhile, the gas giant has also apparently begun reassessing its ties with Central Asia.
On October 29, President Vladimir Putin told Gazprom CEO Alexei Miller to focus on the Far Eastern gas program, adopted back in 2007. Putin said that the development of the massive Kovykta deposit in Irkutsk region and the Chayandinskoye gas field in Yakutia, with total reserves estimated at 3 trillion–3.5 trillion cubic meters, should aim to meet the domestic demand and also help to increase exports to the Asia-Pacific (The Russian presidential press-service, October 29).
According to Miller, the Vladivostok area is due to become a new center for exporting Russian gas to the Asia-Pacific, currently the world’s most dynamic market. Miller noted China, India, Japan, South Korea, Taiwan, Thailand, Bangladesh, Singapore and Vietnam were among priority markets. Miller added that gas exports via pipelines would start only after signing of long-term LNG supply contracts with several of these key regional consumers (The Russian presidential press-service, October 29; Prime, November 2).
Full article: Russia Eyes New Far Eastern Gas Export Hub, Reassesses Central Asia (The Jamestown Foundation)