“The World Will Depend On Yamal”

October 15, 2008 • Philip BurgessBlog

Just in case you were in any doubt that Gazprom, its affiliates and other Russian oil and gas folks are prioritising the Yamal Peninsula, home to the largest area of nomadic reindeer husbandry in the world, the Head of the Union of Russian Oil and Gas Industrialists, Gennady Shmal, said recently that the Yamal Peninsula will be a vital key for the development of the world’s gas industry over the next 50 years.

Rosbalt Nord, Barents Observer

“I do not see any alternatives to the Yamal-Nenets Autononous Okrug, which gives 87 percent of Russia’s gas and 20 percent of the world’s gas”

According to regional predictions, by 2012, a total of 638,6 billion cubic meters of gas will be produced in the region, much of which will be from the mighty Bovanenkovo field. Gazprom is about to install the first three rigs at its huge Bovanenkovo field in the Yamal Peninsula, with a total of nine rigs ready when production starts in late 2011. However, it is not all full steam ahead – the Yuzhno-Tambeyskoe gas field  in the Yamal Peninsula will not now be started until 2024, Gazprom says, likely a disappointment to Shell and ENI, which both seek stakes in the project.