IEA sees Russia’s gas output rising 19.2% by 2040

MOSCOW, Nov 16 (PRIME) -- Russia’s natural gas production may increase by 19.2% compared with 2015 to 758 billion cubic meters per year by 2040, the International Energy Agency (IEA) said on Wednesday in its World Energy Outlook 2016.

According to the Russian Energy Ministry, gas production amounted to 635.5 billion cubic meters in 2015.

IEA expects the country’s gas output to reach 636 billion cubic meters in 2020 and to continue growing by 0.7% per year to 668 billion cubic meters in 2025, to 698 billion cubic meters in 2030, and to 730 billion cubic meters in 2035.

The combined gas production in North America is forecasted to grow by 1.1% to 1.239 trillion cubic meters by 2040, while Saudi Arabia will raise its gas output by 2.1% per year to 148 billion cubic meters, Iran will raise the production by 2.3% annually to 316 billion cubic meters, but the natural gas production in Europe will fall by 1.4% per year on average to 178 billion cubic meters by the year.

The combined world demand for natural gas will rise by about 50% by 2040, the IEA added.

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