Russia expects global LNG market to double by 2040–2045

MOSCOW, Aug 19 (PRIME) -- The global liquefied natural gas (LNG) market will double by 2040–2045, Deputy Energy Minister Pavel Sorokin said on Thursday.

"The LNG market has not fallen in spite of the pandemic. If we consider the long-term prospects… the market can reach 750–800 million tonnes per year. We expect that the volumes and demand for LNG will grow until 2040–2045. For comparison, we are at about 360–370 million tonnes per year, it will double," Sorokin said.

The government expects that Russia's LNG output will amount to 30.2–31.2 million tonnes in 2021 and 2022 after 31.2 million tonnes in 2020. In 2023, the production can rise to 36.2–38.1 million tonnes, in 2024, to 46–65 million tonnes.

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