Gazprom’s gas reserve addition rates have overshot the company’s production rates for the twelfth year in a row.
In 2016, the Company added 457.4 billion cubic meters of gas to its reserves and produced 419.1 billion cubic meters of gas.
The company’s A, B and C1 reserves reached 36.4 trillion cubic meters by the start of 2017, Gazprom said.
Production at the Bovanenkovskoye gas field, the largest field in the Yamal peninsula, reached 7.4 billion cubic meters of gas in 2016, an increase of 5.5 billion cubic meters versus 2015.
Gazprom has also continued the expansion of the northern gas transmission corridor and in January 2017, the company continued the construction of the Ukhta – Torzhok 2 gas pipeline and brought the Bovanenkovo – Ukhta 2 gas pipeline into operation.
The construction of the Power of Siberia pipeline is ahead of schedule with over 1,000 kilometers of the pipeline’s linear section already welded.