According to the ranking from CNN Money, the Bovanenkovo is with its development costs of $41 billion the fourth most expensive project in the world. Owned and developed by Gazprom, the Arctic project has the astronomic development costs not only because of its challenging location at Yamal, but also because of the major infrastructure connected with the field.
Bovanenkovo, which was officially launched in October this year, has resouces amounting to 4,9 trillion cubic meters of gas and will become a hub for several surrounding fields in the area. It is connected with a 1251 km long westbound pipeline stretching across the Baydarata Bay and through the Komi Republic. It is also connected with a new 525 km long railway line, which enables Gazprom to transport equipment to the station of Ob, a former end station in the Russian railway grid. In addition, an airport has been built capable of handling big-size aircrafts.
When in full operation, the gas project will produce an annual of 115 billion cubic meters. The field also holds 5,7 million tons of oil and 111,7 million tons of condensate.
The ranking from CNN Money is topped by the Kashagan project in Kazakhstan, which has the pricetag of $116 billion.
The company is closing down its biggest mine in the Kola Peninsula following plummeting raw material prices. Consequences will be dramatic for Zapolyarny, the industrial town located along the border to Norway.
August 9th, the Barents Region celebrated the UN International Day of the World’s Indigenous Peoples. The day was commemorated in several parts of the region, including Karasjok in Northern Norway and Teriberka in Northwestern Russia.