"Today, we are present at a very significant event in this country's energy sector," Putin said in a video conference with Gazprom officials Wednesday, "Gas extraction is starting at a field that is one of the most promising and largest in the Sea of Okhotsk."
Putin was praising the launch of the Kirinskoye gas field, situated along Russia's eastern coast, RIA Novosti reported.
The Russian news agency said the area holds an estimated 5.7 trillion cubic feet of natural gas. It's expected to produce 194 billion cubic feet per year.
Gazprom operates Russia's only liquefied natural gas plant at Sakhalin Island in the Sea of Okhotsk. Gazprom officials have focused their energy on Asian markets to capitalize on growing demand for natural gas.