Premier Putin Promised Privileges to Investors in Gas Eldorado

24.09.2009 — News

YaNAO.

Russia is interested to engage foreign strategic partners who target the development of Yamal's natural subsoil reserves. Vladimir Putin, Prime Minister of the Russian Federation, announced that investor companies' interest would be facilitated by the tax remissions they would be granted.

V. Putin held a conference session devoted to Yamal's development during his visit to Yamal on 24 September 2009. The peninsula's gas reserves may play a stabilizing role in the world market, he emphasised. 

According to Elvira Nabiullina, the RF Minister for Economic Development, the transfer of know-how and technologies pertaining to the entire chain of development - gas extraction through marketing - is one of the prerequisites for foreign companies to conduct their operations in Yamal. Foreign partners could provide their marketing and logistics infrastructure to ensure the raw stock access to the market, and participate in the training of Russian specialists, including that in the area of employing continental shelf development technologies.

Meanwhile, foreign companies must guarantee their compliance with environmental standards. The development of the fields situated on the Yamal peninsula will allow Russia to access new markets - such as those of North America, Asian and Pacific region and BRIC - for its natural gas deliveries. 

11 gas and 15 oil and gas condensate fields have been discovered on the Yamal peninsula as well as its adjacent water areas, OAO "GAZPROM" told RusBusinessNews. The explored and estimated gas resources total about 16 trillion cubic metres, prospective and forecasted - about 22 trillion cubic metres. The condensate resources are estimated to total 230 million tons, whilst oil resources amount to 291 million tons.