Home / Oil & Energy / Oil & Companies News / Russia’s LNG production capacity to grow three-fold in 15 years, says PM

Russia’s LNG production capacity to grow three-fold in 15 years, says PM

Russia’s government has greenlighted the long-term program for development of liquified natural gas (LNG) production, which envisions a three-fold increase in respective production capacity in 15 years, Prime Minister Mikhail Mishustin said at a meeting with deputy prime ministers.

“The long-term program for development of liquified natural gas production has been approved,” he said. “Liquified gas production capacities are to rise three-fold in 15 years,” he added speaking about the parameters stipulated by the document.

The new program will provide additional possibilities for gasification of Russia’s territory, including the Far East and the Arctic, Mishustin said. “The program is based on a comprehensive approach, aimed at diversification of gas supply sources and first of all at an active use of resources of the Arctic shelf and the Far East,” he said. “Attractive conditions for investors that implement projects in that field, as well as in related industries, will be created. Moreover, state regulation mechanisms will be improved to encourage a wider use of domestic technologies in the gas sector,” PM noted.

“It is also important to boost export, considering the fact that the demand for liquified natural gas is demonstrating active growth globally, particularly due to its high environmental friendliness,” he added.
Source: TASS

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping