Novatek CEO: Russia may produce120 mln tns/year of LNG by 2030

BELOKAMENKA, Murmansk Region, Oct 18 (PRIME) -- By 2030, Russia’s liquefied natural gas (LNG) output can reach 120 million tonnes per year, but monetization of the reserves should go faster, LNG producer Novatek CEO Leonid Mikhelson said at a forum on Monday.

“It is realistic for Russia to consider (output of) 120 million tonnes by 2030. We have to do it,” the corporate said.

Today, Russia’s LNG production stands at just over 30 million tonnes a year provided by the Yamal LNG and Sakhalin-2 facilities.

The world’s top-3 LNG producers are the US, Qatar and Australia with about 77 million tonnes of LNG per year each. Russia has the reserves needed to catch up with the leaders, but they should be monetized quickly, Mikhelson said.

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