Gazprom might increase gas extraction at Kovykta by 10 bln cubic m in case of supply increase to China

Gazprom might increase its gas extraction at the Kovykta deposit (Irkutsk region) by 10 bln cubic m in the case of the increase of supply to China, the head of the Department for working with Oil and Gas Chemicals enterprises of the marketing management of Gazprom OJSC, T. Semikolenov, said.

Now the basic scenario after the corrections presuppose the production level of 24 bln cubic m. But this volume might rise to 34-35 bln cubic m in the case of the necessary supply increase to China, he said.

About 25 bln cubic m of gas a year will be extracted at the Chayanda deposit which is planned to be put into operation in 2018. At the Kovykta deposit, which is planned to be put into operation in 2021, the volume of gas extraction will make up about 24 bln cubic m a year. So the total investment volume to organize the gas supply to China by the basic variant at the volume of 38 bln cubic m a year will make up about 49 bln cubic m a year, Mr. Semikolenov said at the conference “Helium 2014” organized by Creon Energy.