AP: Gazprom inaugurates new gas field while Putin asks company to pay heed to shale gas

Russia's energy giant Gazprom launched production at a major natural gas field in northern Russia while President Vladimir Putin asked the company to look into a growing role of shale gas producers.

Gazprom inaugurated the Bovanenkovskoye gas field on the Yamal peninsula that is expected to yield 46 billion cubic meters of gas next year, and 115 billion cubic meters a year in 2017. Reserves at Bovanenkovskoye, which is situated in the permafrost zone, are estimated at 4.9 trillion cubic meters.

The field is key to Gazprom's plans to expand Europe-bound exports. The state-owned gas monopolist has already built a pipeline leading to the field that would allow shipping the gas directly to Europe.  MORE