Gazprom: Gas reserves forecast in eastern Russia is unconfirmed

4/3/2013

Gazprom: Gas reserves forecast in eastern Russia is unconfirmed

BY LUKAS I. ALPERT

MOSCOW -- Gazprom's forecast of natural gas reserves of 25 Tcm in eastern Siberia and the Russian far east is unconfirmed, a senior company official said, Interfax reports.

"Unfortunately, as the result of drilling, this estimate is not confirmed. Now we have to rethink the information we have received to better understand in which direction we should move" said Nail Gafarov, Deputy Head of the company's gas, gas condensate and oil production department.

Gazprom is developing a field in the far east and building a pipeline, called "Strength of Siberia" to carry gas to a planned liquefaction plant in Vladivostok on Russia's Pacific coast.

The company has increasingly turned to Asia as an energy market as demand from its traditional customers in Europe has fallen and competition has increased.

Dow Jones Newswires

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