MOSCOW, June 30 (UPI) -- Gazprom plans to boost its total gas production by as much as 2 trillion cubic feet per year by 2010, the chief executive officer said.
Gazprom chief Alexei Miller told investors that developments in the Russian Yamal peninsula, Eastern Siberia and the continental shelf in the Barents Sea will contribute to the advanced production levels, the Trend Capital News Agency said Monday.
Miller said these new developments, in coordination with the construction of pipeline projects such as the Baltic Nord Stream gas pipeline, will boost the overall capacity available to European energy markets, adding, "Capacity can be increased if it is necessary."
Gazprom will increase its annual investment in the exploration of natural resource reserves inside Russia by about $2.9 billion by 2010 and at least $3.8 billion by 2020.
"The expansion of our source of raw materials abroad and obtaining a license for the geological survey and development of the hydrocarbon fields in various regions of the world is of great significance," Miller said.
