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Barents Observer – Archangel, Russia: Gazprom plans 20 percent production increase

2007-06-15
 
Russian gas major Gazprom says it plans to increase production with 20 percent by year 2020. Analysts doubt the company will be able to meet the objective.

Responding to critics accusing the gas company of failing to secure higher production, Gazprom’s Deputy Chairman Aleksandr Ananenkov yesterday hit back saying that the company will increase gas extraction to 670 billion cubic meters by year 2020. Compared with 2006 figures the planned 2020 production will be up 20 percent. Mr. Ananenkov argues that the company has developed technical solutions which enables it to keep up high production figures also in winter time under extreme temperatures.

Experts doubt however that the gas company will be able to meet its ambitious objective, even if it will be able to successfully start up production at fields like the Shtokman, Sakhalin-2. Kovykta, Bovanenkovskoe and Chayandinskoe.

Gazprom’s previous production plans were less ambitious. In the Russian national energy strategy until 2020, Gazprom is said to extract only 580-590 billion cubic meter in the period. 

http://www.barentsobserver.com/index.php?id=519984&cat=16149&xforceredir=1&noredir=1

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