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199 billion USD investments in Yamal

Gazprom plans to invest up to 199 billion USD in the Yamal Peninsula over the next 25 years, a company representative said Thursday.

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Gazprom representative Vasily Savchenko in a round table conference in the State Duma Thursday said that the company estimates its total investments in the Yamal Peninsula to between 165 and 199 billion USD over the next 25 years. Gazprom is currently in the process of developing the first field in the gas-rich peninsula. The Bovanenkovo field is to be in production in year 2012.