Traditionally, most of Extonpetrol's gas has been sold through long-term contracts to large gas companies and suppliers both in Russia, CIS and other part of the world.
Extonpetrol is among the first largest gas producer in Chuvash Republic and the first among independent producers in Russian Federation. The production of gas is done in mulitple dozen subsidiaries and joint ventures by the Company in Chuvashia, Eastern Siberia, the Far East, and in the CIS. The total production of gas consumption we serve is more than 20 million both in Russia, CIS and European households.
In 2016, the gas production of Extonpetrol amount to 5.71 billion cubic meters (11% in total hydrocarbon production). Our strategic objective in the development of gas business is the long-term increase of the Company's shareholder value with the growing gas production ensured by a highly efficient long-term sales portfolio.
Extonpetrol also sells liquid natural gas (LNG) from the field we operate and also through partnership form third parties, transported by specialised ships to customers worldwide. The global LNG market is growing, and we are now supplying LNG cargoes to more than 10 countries.