New 10 billion cubic meters gas field discovered in northern Russia

ST. PETERSBURG, March 21 (Xinhua) -- The new Levogrubeyuskoye gas field with 10.319 billion cubic meters of natural gas reserves was discovered in the Republic of Komi in northern Russia.

Timan-Pechora gas company, responsible for the geological exploration work in Komi, plans to conduct exploratory drilling at the Levogrubeyuskoye field in 2018.

TASS reports that the company concluded an agreement with the Komi government on the construction of a gas extraction and processing complex in the circumpolar monocity of Inta. The investments in the project are estimated at 60 billion rubles (more than 1 billion U.S. dollars). Enditem