Page 14 - FSUOGM Week 43 2022

FSUOGM PROJECTS & COMPANIES FSUOGM

Gazprom commissions work on the

Kovyka gas field ahead of schedule

RUSSIA GAZPROM has begun commissioning the 1.8 After beginning supplies from Chayandin-
trillion cubic metre Kovyka gas field in East skoye in December 2019, deliveries to China
It will be the second Siberia, the company said in a press release on have climbed from zero to 10.4bn cubic metres in
Russian field to flow October 25. 2021, a likely 15 bcm this year, and to a planned
gas to China via The decision to start work comes ahead of 22 bcm in 2023 on the way to 38 bcm in 2025,
pipeline. the original plan to start work in December. BCS GM reports.
The decision is part of plans to accelerate the “This should not represent the limit of
construction of the Chayandinskoye-Kovy- Gazprom’s export potential to China. The
kta section of the Power of Siberia gas pipeline recently signed Far East contract calls for
expanding gas deliveries between Russia and up to 10 bcm per year of deliveries from an
China. extended Sakhalin-Khabarovsk-Vladivostok
“There is nothing surprising in the announce- pipeline, and the under-negotiation Power of
ment: a December-2022 launch of Kovykta was Siberia-2 could redirect 50 bcm of West Sibe-
planned from the time of the signing of the rian gas from Europe to China by 2030. Note
Power of Siberia contract with China back in the latter volumes are not in our Gazprom
2014. However, on-schedule launches of major model of RUB260/sh TP, and thus the sign-
fields and infrastructure are always good news, ing of that contract, should it be announced,
as large complex projects always carry the risk of would constitute a major catalyst for the
delays,” BCS GM said in a note. stock,” BCS GM said. ™

Gazprom secures new

gas rights in Yakutia

RUSSIA RUSSIA’S Gazprom has secured rights to two oil project in January, but it is unclear if its involve-
and gas field concessions in the Far East region of ment will continue in light of fallout from Rus-
Gazprom's primary Yakutia, the country’s federal mineral resources sia’s invasion of Ukraine.
asset in the area is the agency told PRIME on October 24. Gazprom’s primary asset in Yakutia is the
Chayandinskoye field. Rights to the fields, known as Choron giant Chayandinskoye gas field, which has been
Yuryakh and Ozernny, were bought for flowing gas to China since the end of 2019 via the
RUB1.23mn ($20,000) and RUB1.14mn Power of Siberia pipeline. ™
($19,000) respectively. They are located next to
the Mastakhskoye gas field, operated by local
gas producer YATEK, which also won two con-
cessions for the Tingnari and Bappagay blocks.
Gazprom beat rival bids from YATEK for its two
concessions.
The four concession areas are unexplored,
meaning that the state has not registered reserves
of any category on its books.
Gazprom and YATEK are the largest gas pro-
ducers in the Yakutia region, which is thought
to have large output growth potential. While
YATEK’s assets are relatively small in scale, the
company’s owner, A-Property, has said it could
be used to underpin an LNG export terminal in
the Russian Far East. Chinese gas supplier Zhe-
jiang Energy agreed to buy a 10% stake in the

P14 www. NEWSBASE .com Week 43 28•October•2022