Russian natural gas reserves to last another century Gazprom

Russia's state-run energy giant Gazprom estimates the country's reserves of natural gas will last 100 years with some deposits capable of delivering the fuel until 2132.

"Russia's gas reserves, Gazprom's gas reserves, are the largest in the world, and we won't face supply problems during the next 100 years," Gazprom CEO Alexey Miller said during the International Business Congress (IBC).

Miller said that Gazprom is the world's most environmentally friendly energy corporation, adding that it is planning to retain this title.

According to Miller, Gazprom's surplus output capacities capable of meeting peak demand amount to 150 billion cubic meters of natural gas. An ability to dramatically increase production levels in response to surging demand is Gazprom's competitive advantage, he added.

Miller also said that China's gas consumption is currently the fastest growing in the Asia-Pacific region. He pointed out that, in the first half of the current year, the volume of natural gas consumption in China surged 15.5%, while the volume of imports saw an increase of 23.8%.

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(RT.com)