Russia is going to take 20% of the world LNG market by 2030

Russia is about to increase hydrocarbon production and develop LNG projects. It is going to take the 20% of the world liquefied natural gas production volume, the deputy Minister of Energy of the Russian Federation K.Molodtsov said at the conference, which takes place in Yuzhno-Sakhalinsk.

“Russian Federation is the largest world power in gas resources (21% of the world reserves). It produces about 19% of the world gas volume and carries out part of gas export. Russia is also interested in taking a leading position in the LNG market,” he said.

“The government and state-run companies are aimed at the active expansion of projects on gas liquefaction. Our target at 12-13% by 2030 is to reach 20% on the world LNG market,” the deputy Minister said.