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Gazprom gas reserves to be 569 bln cu m up in 2006

MOSCOW, October 6 (RIA Novosti) - The gas reserves of Russia's natural gas monopoly Gazprom are expected to increase by 568.7 billion cu m in 2006, and 550.8 billion in 2007, the company's board member said Thursday.

"The company's raw material base is to be maintained through more intensive geological prospecting," Valery Golubev, a member of Gazprom's governing board and the head of the investment and construction department, told a workshop on Gazprom suppliers.

The company's objective is to produce 580-590 billion cu m a year by 2020, and 610-630 billion by 2030.

Gazprom is also in talks with Ukraine over renting a 5-billion-cu-m underground storage facility for Russian natural gas.

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