LNG

Dec 11 (LNGJ) - Russian energy company Rosneft has made a huge discovery in the Kara Sea area with estimated resources of 800 billion cubic metres of natural gas and the field has been named after the Soviet Union’s WWII hero, Marshal Georgy Zhukov, whose forces captured Berlin.

   “The drill hole is 1,621 metres deep and is located in the area where Rosneft and partners in 2014 found 130 million tons of oil,” said the company. “The results of drilling carried out by Rosneft in the Kara Sea have shown the high oil and gas content of these structures, which confirms the discovery of a new Kara offshore oil province,” said Rosneft. “In terms of resources, it may surpass such oil and gas provinces as the Gulf of Mexico, offshore Brazil or the largest resource areas in the Middle East,” added Rosneft.

The Russian government has reduced its target for energy cargo transportation to China and Asian nations by the Northern Sea Route with only shipments of LNG close to meeting projected volumes and cargoes of coal and oil falling short.

The Russian Parliament has adopted amendments to the law on natural gas exporting, opening the way for further LNG developments, and follows big tax breaks recently brought in for oil and gas investments in Russia’s Arctic region.