Alexander Novak: "LNG production in Russia can potentially grow to 120-140 mln tonnes per year"

Alexander Novak: "LNG production in Russia can potentially grow to 120-140 mln tonnes per year"
# 05 September 2019 07:45 (UTC +04:00)

The Russian Energy Ministry sees the potential for the significant growth of domestic LNG production from 30 mln tonnes at present to 120-140 mln tonnes, Minister Alexander Novak said at the Eastern Economic Forum (EEF) on Thursday, APA reports citing TASS.

"If we unveil the available potential, we can progress from current volumes of about 30 mln tonnes of LNG production to the level of 120-140 mln tonnes [per year], capture the niche up to 15-20% of the global market. Since this segment will enjoy sound development, Russia has ample opportunities there in order to secure its market share, monetize reserves, create conditions for development of domestic technologies of gas production, its liquefaction and sales, through the use of the Northern Sea Route and other directions," Novak said.

Development of LNG production is among promising areas in the domestic fuel and energy sector from the standpoint of raising investments, the minister added.

#
#

THE OPERATION IS BEING PERFORMED