Russia Intends to Conquer 20% of the Liquefied Gas Market by 2035

Energy | December 22, 2017, Friday // 10:29|  views

Between 2024 and 2035, there will be a shortage of about 200 million tonnes a year on the Liquefied Natural Gas Market and a chance for Russia, Russian energy minister Alexander Novak said in an interview with Kommersant. According to him, the country could take a share of 15-20% of the liquefied gas market by 2035. At the moment it is about 4%.

The topic of LNG development has been discussed at the beginning of the month, says Novak, adding that some of the most important projects in this area are the Yamal and Gidan peninsula, where the reserves are valued at about 38 trillion cubes. meters.

President Vladimir Putin's bid is that the development of these projects is not at the expense of tube gas.

Novak also commented on how to transport the gas, one of which is the development of a special ice-flow, because the deposits are mainly in the Northern Polar Circle. The development of this ice-break can be done through public-private partnerships, said Novak.

Asked whether the private investors in such a project will be gas companies, the Russian Energy Minister replies that any investor is welcome.

The largest independent liquefied natural gas company in Russia is "Novatec". By its calculations, by 2030, Russia could produce up to 80 million tonnes of liquefied gas per year. The company itself believes it can hold a share of about 2/3 of this segment.

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Tags: Russia, liquefied natural gas, market, control


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