Minister: Russia hopes for 20% share of global LNG market

MOSCOW, Oct 3 (PRIME) -- Russia plans to produce up to 80–90 million tonnes of liquefied natural gas (LNG) per year and expects its share at the global LNG market to reach 20%, Energy Minister Alexander Novak told reporters on Wednesday on the sidelines of the Russian Energy Week forum.

“We plan to develop production of liquefied natural gas in Russia. Last year, Russia’s share at the world market amounted to 4%...But we have set the target of reaching the LNG market’s share of about 20% and raising the LNG production in Russia to 80–90 million tonnes,” he said.

Two production lines of the Yamal LNG project allowed Russia to raise its share on the global market to 8%, and the plant’s third production line will expand the share to 10%, he said.

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