Gazprom invests $182m in R&D projects in 2014

Russian energy giant Gazprom had contributed RUB10.82bn ($182m) to support research and development (R&D) activities in 2014.

The firm, which looks for innovation, had spent more than 50% of the amount over priority engineering projects, which led to a comprehensive engineering design preparation for Kharasaveyskoye gas and condensate field development in the country.

Economic potential of the partly offshore-partly onshore project is around RUB170bn ($2.85bn), the company said.

The investments are in line with the firm’s Innovative Development Program until 2020, which was approved in June 2011 and is aimed at constant improvement of the firm’s technology expertise for energy developments.

Gazprom’s Board of Directors approved the progress report for 2014 in a recent meeting which indicated that the company was able to maintain considerable fuel and energy conservation in the year.

In 2014, the company claimed that firm’s specific consumption for auxiliary process needs was reduced by 11.7% compared to the previous year.

Specific greenhouse emissions in the CO2 equivalent for 2014 were reduced by 2.4%.

2014 saw the firm cooperate with research institutions for the innovative development projects.

The Russian gas producer also continued interaction with the country’s higher education institutions supported by the firm along with improvement of the IP management system and the standardisation system.