- Gas reserves in Russia, Gazprom's gas reserves are the largest in the world
- And we won't have any problems with our reserves for the next 100 years
- Some of the gas fields that Gazprom is developing in the Yamal region have the potential to produce gas until 2132
- The prospects for pipeline gas supplies are quite great
- The potential of the Arctic zone is huge
- Speaking about offshore resources only, those are 15 bln tonnes of oil and around 100 trillion m3 of gas
- That will suffice for decades, hundreds of years if they are required and it is economically reasonable
Massive offshore Arctic development would take place only if needed and only if other regions in Russia run out of resources, Novak added.
Arctic offshore project developments in Russia are under U.S. sanctions which ban the provision of services or technology in support of exploration or production for deepwater, Arctic offshore, or shale projects.
Earlier this year, Russian Natural Resources Minister Alexander Kozlov said that Russia's oil reserves would last until 2080 at the current pace of annual production.
Russia also has natural gas reserves for another 103 years of annual production at current output levels, the minister said.