"Dutch companies have offered their expertise to develop Yamal and offshore fields in the Kara Sea (Arctic Ocean)," Khristenko said referring to "a very interesting proposal" by Royal Dutch/Shell, Gasunie, Essent and GasTerra, which are offering Russia the use of their technology to produce, transport and refine natural and liquefied gas.
Developing natural gas fields in northwest Russia, including Yamal, is one of the country's priorities. "Investment in Yamal has been estimated at $160 billion," the minister said adding that a decision to launch development projects on the peninsula should be made next year.
A Russian-Dutch working group has been established to look at relevant proposals and joint ventures, which could be set up later on when implementing projects in the region, Khristenko said.
Yamal, one of the most promising oil and gas regions in West Siberia, is also strategic for Russian energy giant Gazprom. Proven reserves in the peninsula amount to 10.4 trillion cubic meters of natural gas. Recoverable oil reserves stand at 291.8 million metric tons (2.14 billion bbl).
Gazprom holds licenses to develop the Bovanenkovskoye, Kharasaveiskoye and Novoportovskoye fields with aggregated reserves of 5.8 trillion cubic meters of natural gas.
Under a project to develop the Bovanenkovskoye field, annual natural gas output should reach 115 billion cubic meters in 2011, increasing to 140 billion cubic meters in the longer term. A 2,450 km gas pipeline will have to be laid to transport the gas.
Gazprom signed a deal on Tuesday with Gasunie, giving the Dutch natural gas transportation company a 9% stake in the Nord Stream gas pipeline being built under the Baltic Sea to pump Russian natural gas to Germany.
