Min: LNG localization roadmap requires $35–40 bln of investment

KRASNOYARSK, Mar 29 (PRIME) – Russia can raise U.S. $35–40 billion investments to localization of production of critically important equipment for liquefied natural gas (LNG), Energy Minister Alexander Novak told reporters on Friday.

“We see that demand for LNG will double in the next 15 years, until about 2035. This adds about 200 million tonnes of consumption,” he said.

“This means that Russia could take about one third of the figure…We have everything we need for that, we have promising resources…We can sell up to 100 million tonnes with our resource base and using Russian equipment. The Russian government signed a roadmap for that last summer.

“This is a huge order for the national machine-building industry. This is a comprehensive plan that would create jobs and attract investment, and investment in the LNG segment alone would reach about $35–40 billion.”

Under the roadmap, production of vital LNG equipment will be launched in Russia in the middle of 2020s.

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