Russia owns gas reserves sufficient for more than 100 years

Russia's extractable natural gas reserves at current production levels will last for more than 100 years, while oil reserves will be sufficient for approximately 64.5 years, Russia's Minister of Natural Resources Alexander Kozlov said, Report informs via TASS.

Currently, 4,052 licenses are in force in Russia for geological exploration, prospecting, and production of hydrocarbon raw materials.

According to the Russian Ministry of Natural Resources, about one-fifth of the world's natural gas reserves - 63.5 trillion cubic meters - are in Russia. The country ranks fifth in terms of oil reserves with 31.4 billion tons.

The Parusovoye, Severo-Parusovoye, and Semakovskoye fields are planned to be put into operation. Their total reserves exceed 450 billion cubic meters of gas and 7 million tons of liquid hydrocarbons.