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Russian LNG production is growing steadily

Russian LNG production is growing steadily 

Production of liquefied natural gas in Russia in 2020 increased by 3.5% compared to the previous year. According to Rosstat, the volume of LNG produced amounted to 30.5 million tons.

 LNG terminal Morning


At the same time, as follows from data service, in December in Russia, LNG production increased by 5.8% compared to November, reaching about 2.9 million tonnes. In annual terms, the growth amounted to 1.4%.

At the same time, natural gas production in Russia at the end of 2020 decreased by 7% compared to the previous year. It amounted to 599 billion cubic meters. In particular, in December, in monthly terms, the production of “blue fuel” increased by 5.7%, to 59 billion cubic meters. And on an annualized basis it decreased by 1%.

Russia can take a large share of the world LNG market

It is worth noting that in the fall of last year, then Minister of Energy Alexander Novak said that Russia could take 25% of the world LNG market. “Russia, confidently leading in the global energy sector in terms of reserves, production and export of gas, will be actively engaged in meeting the global demand for liquefied gas,” noted Novak.

“By 2025, the total capacity of our projects will be more than 68 million tons per year. In the long term, Russia's share in the global LNG market may reach a quarter of the global figure, ”the minister added.

He noted that natural gas is the most environmentally promising among traditional energy sources. And, along with renewable energy sources, it will be able to provide solutions to the urgent tasks of reducing greenhouse gas emissions in the coming decades.

Russia's potential in the global liquefied gas market is underpinned by a number of factors, the minister continued. Thus, the Russian Federation has the largest resource base in the world – about 20% of all proved reserves. Moreover, Russia is geographically close to both Europe and Asia. This allows LNG to be delivered to the consumer in the shortest possible time.

Finally, the country sees great potential in the development of the Northern Sea Route. In the future, it will become a key transport route connecting Russian Arctic projects with markets in both Europe and Asia. : ///

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