OREANDA-NEWS. October 23, 2012. Taking part in the videoconference were Presidential Aide Elvira Nabiullina, Energy Minister Alexander Novak and Rosneft CEO Igor Sechin. Gazprom CEO Alexei Miller reported on the launch of production at the gas field.

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PRESIDENT OF RUSSIA VLADIMIR PUTIN: Good afternoon, friends,

I want to welcome all those who have gathered in Yamal today, all those who took part in implementing this major, large-scale project in the Yamal Peninsula.

Natural gas reserves at the Bovanenkovo field, which we are launching today, are enormous: they amount to 4.9 trillion cubic metres of gas.

We are implementing a number of major projects this year, both in production and infrastructure, including the second leg of the Nord Stream pipeline and the South Stream project. These extensive programmes testify to the fact that Russia is a major producer of natural gas and a reliable supplier to the domestic and foreign markets.

I want to thank everyone who played a part in the launch of the Bovanenkovo gas field. This work was done in very difficult climatic conditions and its success was ensured by our highly qualified professionals: workers, engineers and scientists. You have made a great contribution to the sector’s success, as well as the development of our national economy. It opens new horizons for the expansion of the domestic market and strengthens our export potential.

Suffice it to say that 115 billion cubic metres of gas will be produced at the Bovanenkovo field every year, and this figure will rise to 140 billion cubic metres in the near future. This amounts to almost the entire volume of our exports to Europe (a little less, but nearly the entire volume). This is a tremendous amount. In fact, it is comparable to the amount of gas produced in the Soviet Union at the beginning of large-scale production. This event is on the same scale.

The total reserves in Yamal will allow us to produce 340-360 billion cubic meters of gas by 2030. This is an enormous amount, and it will guarantee for decades ahead that we will be able to fulfil our obligations not only to our partners abroad, but also to supply gas on a large-scale to Russian cities, towns and villages.

The new Bovanenkovo-Ukhta gas pipeline was built especially to supply gas to the Unified Gas Supply System of Russia. This technologically unique pipeline will carry gas from Yamal to the central regions of the Russian Federation.

However, much remains to be done. In particular, it is important to continue the comprehensive development of gas fields in Yamal and the north of the Krasnoyarsk Territory. We plan to build a modern oil and gas region here, put into operation dozens of promising fields, link them with roads and gas pipelines and create thousands of new jobs. This is all possible and I'm sure it will be achieved.

In addressing these issues, I count on responsible and concerted efforts of the federal and regional authorities, and gas sector companies. We will discuss these and other issues in this sphere at a meeting of the Commission for Strategic Development of the Fuel and Energy Sector and Environmental Security.

In conclusion, I would like to thank once again the engineers, workers and everyone who worked at this gas field for their contribution to this challenging and vitally important project, which was implemented in accordance with the highest environmental standards. This is essential in regions such as Yamal and the Far North in general.

I want to congratulate you once again on your great success and wish you all the best.

Congratulations on the launch of production!