Economics

18:20, 27.12.2007 | Far East Russia

Russia's deposits in east Siberia and the Far East are expected to produce and supply 207 billion cubic meters of gas by 2030, a Gazprom official said on Wednesday.

Alexander Ananenkov, deputy chairman of the Gazprom management committee, said Russia planned to achieve this figure via a program of creating a single system of gas production, transportation and supply in east Siberia and the Far East, taking into account possible gas exports to China and other Asia and Pacific countries.

"Today we are at the initial stage of implementing the Eastern gas program, [due to run] until 2030. Gazprom has started to perform in full its functions of coordinator for the implementation of the program. The volume of investment under the program will total 2,500 billion rubles [$101 billion] up to 2030," Ananenkov said.

The Eastern program was endorsed by the Russian Industry and Energy Ministry in September 2007. Energy giant Gazprom is acting as the program's coordinator, information agencies say.