Russia extends its LNG output target of 100 million tonnes deadline by several years
Russia continues to develop its liquefied natural gas (LNG) production. The country is building a number of liquefaction plants, including a 13 million tonnes facility in Ust-Luga, Russian Deputy Prime Minister Alexander Novak said in an interview with the TV channel Rossiya 24.
Russia’s target to reach an annual liquefied natural gas output of 100 million tonnes by 2030 will be postponed by several years due to sanctions restrictions, the official said.
“Nevertheless, the construction of a number of projected plants continues, including the 13 million tonne plant in Ust-Luga. Two liquefaction trains have already been commissioned at the Arctic LNG 2 plant. Therefore, we are not changing our plans and believe this will be one of the main, let’s say, sectors and drivers of development for the energy industry,” said Alexander Novak.
Speaking about the global gas market as a whole, the official noted that gas accounting for 26% in the global energy balance remains one of the main energy resources with the global gas market growing by about 1% annually. Current total global gas consumption is 4.3 trillion cubic meters, and by 2050, according to expert estimates, it will increase to 5.7 trillion cubic meters.
Alexander Novak emphasized that gas, being a highly environmentally friendly energy resource, will be actively used, particularly today, when electricity consumption is growing at a higher rate than the overall economy, due to the introduction of new digital technologies, AI, and the construction of data centers.
Source: Port News
