Itera Group's Investments In Russian Gas Industry Reach $840M

Itera Group has invested $840 million in the development of the gas producing industry of Russia as of now, a representative of the Itera Holding Press Service told RBC. During the next 7 years the company plans to increase the volume of investments in this industry to $1.5 billion, which, in accordance with expert estimates, will enable it to reach the level of production that will allow for adding 80 billion cubic meters of gas a year to Russia's gas balance. Four gas and gas condensate deposits are being developed in the Yamalo-Nenets Autonomous Area with the support of Itera Group now. Over 23 billion cubic meters of fuel were produced there last year. In 2001 Itera started the development of three more deposits in the Yamalo-Nenets Autonomous Area, and it intends to begin production of hydrocarbons in some countries of Central Asia this year.