ITERA International Energy Company, founded in 1992, is a globally involved energy company. Based in Moscow, Russia, the company’s chief service regards the extraction and transportation of oil and gas. It provides services not only for Russia and former Soviet Union areas but around the world.
One of the largest players in the Russian energy market, the company produces and trades natural gases. The company’s branches and affiliate companies are located around the world. Along with gas and oil, the company deals with energy, civil construction, pipeline, coal mining, finance, and insurance.
ITERA originally began in the United States as a trading company in 1992. In two years time, the company began projects relating to gas extraction and gas-supplying. Soon, the company had established a reputable name for itself in the Central Asian region.
In 1994, the company received the rights to sell Turkmeni gas to use as payment for transactions to Turkmenistan. This led to further transactions with other Asian countries such Ukraine, Belarus, Moldova, Georgia, and the Baltic States.
It initiated sales of the Turkmeni gas to the Ukraine in 1995. The success of this initiation prompted the company to explore other trading opportunities through the former Soviet Union (FSU). By the late 1990’s, it rose to become the second largest seller of gas in the FSU.
Eventually, the company became the sole supplier for the Russian region of Sverdlovsk. Sverdlovsk served as an industrial heart of local Russian energy. The company continues to actively penetrate Asian markets to begin providing services to many local areas.
In 1998, the company began a launch to extract its own natural gas in Western Siberia. In its growth, it became the first company to operate gas fields in the northernmost regions of Russia. These efforts boosted the company’s rapport with Russia and soon the company became a vastly connected business.
Involvement in Russia
The Yamalo-Nenets Autonomous District is a key area for ITERA. After implementing the production of natural gas in the region in 1998, the company began operation in Gubkinskoe and Vostochno-Tarkosalinskoye. The company also takes part in commercial operations involving gas fields and hydrocarbon field development. Furthermore, participation in the gasification of housing settlements and areas of the Yamalo-Nenets Autonomous District has become a priority in recent years.
The Sverdlovsk Region in western Russia ranks as one of the most populous regions of country. In 1999, the company began to provide gas services to this area because of its size and prominence. At present, the company fulfills around 80% of the natural gas needs.
The company also holds gas fields in Bratsk, in the Irkutsk region, and in the Orenburg Region. Both of these locations contain valuable resources for the company’s efforts. The licenses for the fields expire in 2039 and 2037, respectively.
Involvement Outside of Russia
Since its original engagement with Turkmenistan in 1992, ITERA Energy Company’s involvement continues to increase. The company’s work in the country has developed immensely. For example, in 2010, the company completed construction of a gas pipeline that transports nearly three billion meters of gas a year to its markets.
Belarus has also been a key location for the company. Many constructions projects have continued due to the company’s involvement. A huge complex in Minsk-City and a skyscraper in the same region stand as two accomplishments.
In Armenia, the company’s efforts have produced tremendous results. A sports center on the Lake Sevan was constructed under the company’s supervision. Also, the company involved itself in developing the infrastructure of the capital of Armenia, Yerevan.
The United States continues to act as a significant location for the company. Its American branch, ITERA USA, has its headquarters in Jacksonville, Florida. Operating in many US states, the company focuses on oil and real estate. Other key focuses include renewable energy, and chemical and bioenergetics technologies.
While gas and oil still remain the company’s main business interest, the company involves itself in civil engineering and construction. In the mid-2000s, the company completed several large projects unrelated to oil and gas production:
- It carried out plans for the Office Complex for the Organization Committee that will serve as the hub for the 2014 Winter Olympic Games.
- It also oversaw the construction for a large business building in Minsk, Russia.
- In Moscow, the company took charge of a housing settlement project.
- The company became responsible and oversaw the construction of a sports facility in Turkmenistan.
In addition, the company has an increasing interest in developing a base for electric power. To this end, the company constructed a steam-gas power plant in the Nizhny Novgorod Region. The efforts began in order to provide electricity to the Nizhny Novgorod Region, which desperately needed it. The project also created many jobs for the region.
ITERA International Energy Company and Its Community
The company’s growth and continual involvement continues to affect jobs and job creation. In Russia, Belarus, and Georgia, particularly, has the company created employment opportunities. The company takes its economic influence very seriously.
Also, the construction for the Winter Olympic Games complex has been specifically designed to meet all eco-friendly standards. It has an energy saving system and uses several natural energy sources.
Gas production and extraction can be detrimental to the environment. Yet, the company takes precautions. In the Far North of Russia, the gas projects appear with protective measure to preserve the environment.
The company created the Council on Charity and Sponsor activities in 2003. The council identifies charity opportunities and activities. It also creates recommendations for significant charitable projects. In fact, the company’s Flight of Hope project won the prestigious PROBA-IPRA Golden World Award.
Igor Viktorovich Makarov, the company’s Chairman of Board of Directors, an avid cyclist, has supported cycling organizations both within and outside Russia. The company remains a supporter for the Russian Cycling Federation, supporting four separate Russian cycling teams.
With its small beginnings in 1992, ITERA Energy Company continues to expand its influence as a reliable enterprise. With influence in several viable regions of the world, ITERA acts with community and environmental responsibility. ITERA International Energy Company influences not only scientific development, but also the hearts and minds of the people they serve.