Putin inaugurates new oil, gas pipelines

MOSCOW, January 18, 2017 – Russian President Vladimir Putin said on Wednesday that three new pipelines recently entered into operation would help secure future exports.

Speaking via a video link at the launching ceremonies, the Putin said, “Russia’s energy security and further development of gas infrastructure of the regions will depend on implementation of these tasks, as well as guaranteed implementation of export contracts.”

Gazprom’s Bovanenkovo-Ukhta 2 gas pipeline, with a capacity of 263 mcm (9.29 bcf) per day, will carry gas from Bovanenkovskoye, the largest oil- and gasfield in the Yamal Peninsula in northwestern Siberia, to suppliers in northern Europe. The field is estimated to hold some 4.9 tcm (173 tcf) of gas.

Transneft’s two new oil pipelines, the Zapolyarye-Purpe line and the Kuyumba-Taishet conduit, will connect recently developed fields in northern Siberia with estimated reserves of 14.7 billion barrels to the domestic pipeline network. Zapolyarye-Purpe is expected to pump about 55 million barrels in its first year of operations while Kuyumba-Taishet’s capacity is expected to increase from 7.33 million barrels this year to 58.6 million barrels per year in 2020, Reuters reported.

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