Russia's Gazprom Drilling Big New Gas Field

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Russia's state-controlled energy company, Gazprom (NASDAQOTH: OGZPY  ) , has begun production at a huge natural gas field in northern Russia, The Associated Press reported today. The field in question is called the Bovanenkovskoye gas field, and it's located on the Yamal peninsula, which is east of northern Scandanavia, and juts into the Kara Sea.

The field is expected to produce 46 billion cubic meters of gas in 2013, more than doubling by 2017 to 115 billion cubic meters annually, according to the AP. Total reserves are believed to be around 4.9 trillion cubic meters in the field.

Gazprom is pushing natural gas as a fuel source in Russia. The company owns 208 of the 243 compressed natural gas filling stations in the country, and noted that one of its primary objectives is "to considerably expand the NGV (natural gas vehicle) fuel business."

John Divinehas no positions in the stocks mentioned above. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.

 The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2070980, ~/Articles/ArticleHandler.aspx, 10/26/2016 11:40:23 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 hours ago Sponsored by:
DOW 18,199.33 30.06 0.17%
S&P 500 2,139.43 -3.73 -0.17%
NASD 5,250.27 -33.13 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/26/2016 3:59 PM
OGZPY $4.24 Down -0.06 -1.49%
Gazprom OAO (ADR) CAPS Rating: ****