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Putin says Russia's energy resources still underrated

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MOSCOW, January 31 (RIA Novosti) - Russian President Vladimir Putin said Tuesday that Russia's energy potential remained far in excess of current estimates.

At a Kremlin news conference, Putin pointed particularly to the Barents Sea's giant Shtokman gas field and the Yuzhnorusskoye field in the northern Russian region of Yamal-Nenets, which could produce dozens of billions of cubic meters of gas a year.

He also cited the reserves of the largely-unexplored East Siberia region.

"The Shtokman deposit is expected to yield as much as 90 billion cu m a year over the next 50 years," Putin said.

Calling East Siberia "a Klondike of energy resources", the president said, "There are enormous resources there, for which there will undoubtedly be a demand."

Putin said that one of Siberia's advantages was its remoteness from the political center. "It is not involved in political intrigues," he said.

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