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. Russia Needs 92 Billion Dollars To Develop Eastern Gas Deposits By 2030

The Irkutsk region, one area that Russia hopes to exploiy for gas production.
by Staff Writers
Moscow (RIA Novosti) Jun 18, 2007
A program to develop gas deposits in East Siberia and the Far East will require 2,400 billion rubles (about $92 billion) in investment by 2030, an official of Russia's industry and energy ministry said Friday. At its meeting June 15, the government commission for the fuel and energy complex discussed a program to create a single system of gas production, transportation, and supply in East Siberia and the Far East, taking into account potential exports to China and the Asia-Pacific region.

Andrei Dementyev said four gas production centers would be set up on Sakhalin Island, the Republic of Yakutia and the Irkutsk and Krasnoyarsk Regions to develop gas resources in Russia's east.

Russia's gas exports to China and South Korea from 2020 will amount to 25-50 billion cubic meters a year, while liquefied natural gas deliveries will total 20 billion cubic meters, Dementyev said.

The industry and energy ministry will submit to the government a general plan for the gas sector development by the end of this year, Dementyev said.

"By the end of the year, we will be ready to submit a general scheme to the government and by the end of the first quarter of 2008 we'll prepare a fuel balance," Dementyev said.

The deputy minister also said the program of creating a single system of gas output, transportation, and supply in East Siberia and the Far East would become an integral part of the general scheme for the development of the country's gas sector.

Source: RIA Novosti

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