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Gazprom Eying Chayandinskoye, Sakhalin-3 Licenses

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Sakhalin 3
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MOSCOW Jun 15, 2007 (Dow Jones Newswires)

Russian natural gas monopoly OAO Gazprom (GSPBEX.RS) wants to acquire the license for the Chayandinskoye gas field and licenses for the Sakhalin-3 oil and gas project, news agency prime-Tass reported Friday, citing Gazprom Deputy Chief Executive Alexander Ananenkov.

Speaking at a meeting Friday of the government's energy industry commission, Ananenkov argued that Gazprom needed gas from Sakhalin-3 to supply the city of Vladivostok via the Khabarovsk-Vladivostok pipeline, which is slated to be built by 2011.

Gazprom also needs gas from Chayandinskoye to supply East Siberia and Russia's Far East, he added. The Chayandinskoye field is expected to be launched in 2016, Ananenkov said.

The Sakhalin-3 project area, located near Sakhalin Island, has prospective reserves of 850 million metric tons of oil and 800 billion cubic meters of natural gas, while the Chayandinskoye field, located in the constituent republic of Sakha (Yakutia), has recoverable gas reserves of 1.24 trillion cubic meters and recoverable oil reserves of 50 million tons.

Ananenkov also said Gazprom was considering developing deposits on the Kamchatka Peninsula.

Commenting on the government's draft natural gas industry program, Ananenkov said gas output in East Siberia and Russia's Far East is expected to total over 200 billion cubic meters a year by 2030.

He said Gazprom would finalize its proposals on the program in September. Deputy Industry and Energy Minister Andrei Dementyev said the ministry would submit the draft program to the government by the end of 2007.

Copyright (c) 2007 Dow Jones & Company, Inc.

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