Chaynda field is anticipated to hold about 1.2 trillion cubic meters of gas, according to the company.

The company has proposed to build the 3,200km long gas pipe from the gas field to the Pacific port in the Russian city Vladivostok, where Gazprom is planning to build a liquefied natural gas facility and export it to the pacific markets.

Gazprom CEO Alexei Miller was quoted by The Associated Press as saying that, "In the near future, we will be able to build new gas export capacities which would be comparable to or, perhaps, even exceeding gas supplies to Europe."

The company also suggested an investment of up to RUB430bn ($13.7bn) is required to develop the new gas field.

It is also planning to set up a pacific bound pipeline to tap the resources of the Kovykta gas field in Siberia which is expected to have about 2.5 trillion cubic meters of gas.

The new gas pipeline is expected to be completed by 2017.