Russia can quadruple its production of liquefied natural gas (LNG) by 2035, the head of the Department of Oil and Gas Production and Transportation at the Russian Energy Ministry Alexander Gladkov has said, according to Kommersant.
“If all LNG projects are implemented, Russia will have a capacity to produce about 83 million tons of LNG [per year] … The potential of LNG production in Russia will let [the country] increase its share on the LNG market from 4.5 percent to 15-20 percent by 2035,” the official said.
According to Gladkov, the Ministry of Energy allows the possibility of using additional incentives for the development of the industry.
“We are ready to continue to consider the possibility and approaches to stimulate LNG,” Gladkov said.
According to the ministry, there will be a strong demand for LNG spare capacity in the world by 2035, with the deficit estimated at 200 million tonnes, which could be offset by the Russian supplies.
The Sakhalin Oil & Gas Conference & Exhibition is being held September 25-27 in Yuzhno-Sakhalinsk on Sakhalin Island in Russia’s Far East.