The gas company now confirms that production at Bovanenkovo in 2013 will amount to 30 billion cubic meters and that volumes in 2014 will increase to 40 billion and then to 42 billions in year 2015. This is less than half of the original plans, newspaper Kommersant reports. In 2015, Gazprom originally planned to produce up to 90 billion cubic meters of gas at the field. The production capacity of the project facility is 115 billion cubic meters per year.
As previously reported, the field which holds as much as 4,9 trillion cubic meters, was officially launched in October 2012.
The production cuts come as the company is experiencing declining demands. In 2012, the company saw a drop of in production, much due to declining sales in the European market. Exports to the EU in 2012 declined year-on-year by 3,5 percent. In 2013, the main challenge for the company appears to be the domestic market, where Gazprom is facing increasingly touch competition from other gas producers.
The Bovanenkovo is with its 4,9 trillion cubic meters of reserves the biggest of the fields in the Yamal Peninsula.
