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36

Board of Directors addresses Gazprom’s resource base development for securing gasification of Russia’s regions

The Gazprom Board of Directors took notice of the information regarding the progress with the Company's resource base development for securing the gasification of Russia's regions.

The Gazprom Board of Directors took notice of the information regarding the progress with the Company's resource base development for securing the gasification of Russia's regions.

 

It was noted that the gasification of Russian regions was a socially significant business priority for the Company. Between 2005 and 2013 Gazprom channeled around RUB 214 billion (excluding gas branch and gas distribution station construction costs) for these purposes. These funds made it possible to bring into operation 1,527 inter-settlement gas pipelines stretching almost 22 thousand kilometers, supply gas to some 600 thousand apartments & households and over 3,600 boiler houses in 2,700 population centers. As a result of the work done, the average gasification level throughout Russia grew 12 per cent up to more than 65 per cent.

 

The work continues. This year Gazprom is earmarking RUB 28.8 billion for the gasification purposes.

 

Gazprom is the world's largest company in terms of natural gas reserves. Its explored А+В+С1 (according to the Russian classification) gas reserves amount to 35.7 trillion cubic meters – 72 per cent of Russia's and 17 per cent of the global total. The Company's explored reserves are located mostly in the Urals (70 per cent) and Northwestern (12 per cent) Federal Districts as well as in the Southern (7 per cent), Far Eastern (4 per cent), Volga (2 per cent) and North Caucasus (0.1 per cent) Districts.

 

The Company is consistent in performing a big scope of work to develop its mineral resource base. The corporate Mineral Resource Base Development Program provides for the expanded replenishment of resources. The Program execution across Russia in 2013 resulted in a 646.9 billion cubic meter addition to gas reserves. The gas reserve replenishment to gas production ratio reached 133 per cent. Therefore, for the ninth consecutive year natural gas reserve additions surpassed gas production.

At present, the Company is engaged in geological exploration in all the Russian Federal Districts, except for the Central and Crimean ones. Special attention is paid to the accelerated preparation of hydrocarbon reserves for commercial development in Eastern Siberia and the Far East, where the gas consumption growth will be Russia's largest in the next decade. This growth will be propelled by new gas chemical and gas processing facilities to be built here as well as by gasification efforts to be made primarily along the Power of Siberia gas pipeline route.

 

The Board of Directors underscored that gas supplies to Russian consumers (taking into account the intensive development of the gasification process) as well as the Company's gas export obligations were fully secured by Gazprom's mineral resource base over a long run.

The Company's relevant business units were entrusted with continuing the resource base development activities.

Source : Neftegaz.RU