Gazprom approves Siberia plan

Gazprom has approved the creation of a joint venture with German energy firm Wintershall to develop untapped parts of a giant Siberian field. The project should help indebted Gazprom to raise more funds to develop its massive gas resources and to meet rising demand in Europe and inside Russia. Gazprom said the 50/50 joint venture would tap the deepest parts of the Urengoi field, one of the world’s largest, and was expected to produce a total of 118 billion cubic metres (bcm) of gas, enough to supply Germany for more than a year. The partners agreed to export a total of 36 bcm of gas and sell the remaining 82 bcm inside Russia. The venture also plans to produce 29 million tonnes of gas condensate, of which some nine million tonnes will be exported and the remaining 20 million refined at Gazprom’s Siberian refinery.

Looking for more projects or tenders?
Subscribe to our Project Preview Newsletter

Previous articleLundin to develop fields in Tunisia
Next articleSpanish power revamp
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.