Miller: Russia will have plenty of gas for decades to come

Russia has large gas reserves that will last for decades, declared Gazprom CEO Alexei Miller at an event attended by President Vladimir Putin to mark the 30th anniversary of the Russian energy company.

“There will be plenty of gas in Russia for many, many decades to come, and the world’s largest resource base is the key to this,” he said.

Miller explained that the flagship of production is the Yamal gas production center and its heart is the Bovanenkovskoye field. He added that “Gazprom» is one of the leaders in the global energy market and the largest company in the country. Over the past years, Miller noted, Gazprom has gained invaluable experience in the Arctic, thanks to which Russia is now “unrivaled” there.

Putin in turn indicated that gas “has been and will continue to be a valuable resource for a very, very long time, the demand for which will only grow.” In the next 20 years, the demand for it will grow by at least 20%, the president added.

Earlier, Gazprom approved an investment program in the amount of 2.3 trillion rubles, which provides funds for financing priority projects, including for the further development of new gas production centers – Yamal, Yakutsk and Irkutsk, the Power of Siberia gas pipeline, a gas processing complex ” Gazprom, as well as projects that ensure the peak balance of gas.

In December Miller named 2022 is a “very, very challenging year”, noting that the drop in global gas demand was, according to preliminary estimates, 65 billion cubic meters. m, with 55 billion cubic meters. m of them are in 27 European countries.