23.12.2022, 12:13
Russia is going to increase LNG production three times
Source: OREANDA-NEWS
OREANDA-NEWS Russia is going to increase the production of liquefied natural gas (LNG) by two and then three times in the coming years. This was stated on the air of the Rossiya 24 TV channel by Deputy Prime Minister Alexander Novak.
First, the country will increase fuel output to 60 million tons per year, and then it will reach the level of 100 million. According to Novak, the current volume of production in Russia is 36 million tons of LNG. "We set ourselves even more ambitious goals — to reach the level of 60 million tons in the next three to four years, then up to 100 million tons. And this is the resource that will be distributed across all markets," he stressed.
Russian energy resources are still in demand in the world, despite the embargo, the Deputy Prime Minister added. Although the EU has stopped buying Russian oil, the European gas market remains relevant for Russia. However, according to Novak, the ceiling of gas prices may lead to the transition of gas suppliers to other sites where there are no such restrictions.
The Deputy Prime Minister admitted that if such a mechanism is activated, there will be a redistribution of volumes — gas will look for other markets, and a shortage will begin in the EU. Russia, in particular, has already planned to redistribute gas supplies from Europe to other destinations.
Meanwhile, Europe continues to expand its LNG receiving capacity. On December 17, Germany launched the first regasification terminal in the city of Wilhelmshaven. German Chancellor Olaf Scholz, who was present at the opening ceremony, stressed that the country's authorities would do everything to become independent of Russian gas supplies. In the future, the country wants to create a large number of similar terminals. Thus, construction is already planned in Lubmin, Brunsbüttel and Stade.
First, the country will increase fuel output to 60 million tons per year, and then it will reach the level of 100 million. According to Novak, the current volume of production in Russia is 36 million tons of LNG. "We set ourselves even more ambitious goals — to reach the level of 60 million tons in the next three to four years, then up to 100 million tons. And this is the resource that will be distributed across all markets," he stressed.
Russian energy resources are still in demand in the world, despite the embargo, the Deputy Prime Minister added. Although the EU has stopped buying Russian oil, the European gas market remains relevant for Russia. However, according to Novak, the ceiling of gas prices may lead to the transition of gas suppliers to other sites where there are no such restrictions.
The Deputy Prime Minister admitted that if such a mechanism is activated, there will be a redistribution of volumes — gas will look for other markets, and a shortage will begin in the EU. Russia, in particular, has already planned to redistribute gas supplies from Europe to other destinations.
Meanwhile, Europe continues to expand its LNG receiving capacity. On December 17, Germany launched the first regasification terminal in the city of Wilhelmshaven. German Chancellor Olaf Scholz, who was present at the opening ceremony, stressed that the country's authorities would do everything to become independent of Russian gas supplies. In the future, the country wants to create a large number of similar terminals. Thus, construction is already planned in Lubmin, Brunsbüttel and Stade.
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