Gazprom Shelves Bovanenkovo Field Commissioning

Gazprom Management Committee took into consideration the information with regard to pre-developing the Cenomanian-Aptian deposits of the Bovanenkovo field as well as constructing the Bovanenkovo - Ukhta gas trunkline system and the new Obskaya - Bovanenkovo railroad.

The meeting noted that the global financial crisis had a negative impact on the domestic and foreign gas demand as well as on the consumption forecast over the next years. Taking into consideration that Gazprom's business is market-oriented, the Management Committee resolved to postpone the commissioning of the first startup complexes of the Bovanenkovo field and the Bovanenkovo - Ukhta gas trunkline system from the third quarter of 2011 to the third quarter of 2012.

Taking into consideration the above mentioned information, Gazprom specialized subdivisions were tasked to prepare the updated schedule for stagewise and synchronized commissioning of gas production and transportation facilities including the SRTO-Torzhok GTS expansion with due regard of annual production dynamics at the Bovanenkovo field, starting from the third quarter of 2012.

The Management Committee also tasked Gazprom subsidiaries to modify the comprehensive procurement and construction schedules within the investment projects for pre-development of the Cenomanian-Aptian deposits of the Bovanenkovo field and construction of the Bovanenkovo - Ukhta gas trunkline system in order to secure the first phase of the construction in the third quarter of 2012.
 

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