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Membership of GS1 UK and the BCMPA are two of the company's first steps on a path to greater industry visibility and engagement - publicly confirming the company's broadened abilities and expertise - designed to facilitate the planned increases in customer acquisition rates and new business growth.
Production at the filed is expected to reach 1.5 bcmpa by 2012.
Turkmenistan is the biggest Central Asian gas supplier, and possesses the largest gas production potential (up to 100-120 bcmpa by 2015).
We assume a pipeline capacity of 60 bcmpa and capex of $12.9 bln, which would increase Gazprom's target price by 2.3% to $9.1/share if South Stream is constructed.
NOVATEK's development plan for the South-Tambeyskoye field assumes 25 bcmpa (81% of 2008 gas production) of gas production for at least 20 years.
Utilizing Gazprom's Bovanenkovo-Ukhta pipeline (for now only two lines of 60 bcmpa capacity are to be constructed) is the only possible option for NOVATEK to commence production at South-Tambeyskoye in 2015.
We have applied the following assumptions to our sensitivity analysis: capex of $13.2 bln and commissioning of the project in 2017 with average production output of 26 bcmpa for gas and 1.6 mtpa for gas condensate (see page 15 of this report for a more detailed project description).
Initially the company planned to develop the field in four stages with a peak output of 32 bcmpa. The first stage, with a production capacity of 9 bcmpa, was launched in July 2004 and the second (7 bcmpa) in September 2008.
Production reached a plateau of 13- 15 bcmpa in 2003-05, and so far remains stable.
The agreement is for 68 bcmpa to China starting in 2014-15.
The companies negotiated the construction of two trunk pipelines to China from the west and east of Russia, of 30 bcmpa and 38 bcmpa capacities, respectively; however, the gas price and its calculation mechanism were not agreed on.
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- BCN (disambiguation)