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LNG share on global gas market to reach 70% by 2040, says Russian energy chief

The share of liquefied natural gas (LNG) on the global gas market may double to reach 70% by 2040, Russia’s Energy Minister Alexander Novak said at the Krasnoyarsk Economic Forum.

“The segment of LNG production has huge potential. As of today, the share of LNG in global (gas) trade stands at 35%, whereas by 2035 it will exceed 50% and reach 70% by 2040,” he said.

Novak said that Russia will be working towards boosting substantially its share on that market, adding that its LNG production potential is around 100 mln tonnes per year.
Source: Tass

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