Due to Western sanctions, russia expects stagnation in the export of liquefied natural gas (LNG), which will last about 4 years. Reuters writes about this with reference to the documents of the Ministry of Economy of the russian federation, UNN reports.
Details
According to the Ministry's "conservative" and "stress" scenarios, LNG production will remain at 38.6 million tons annually in 2025-2027.
At the same time, the baseline and most optimistic scenario envisages an increase to 56.6 million tons in 2027 from 33.3 million in 2023.
Reuters adds that thanks to new plants located mainly in the Arctic, russia wants to provide 20% of the global LNG market by 2030-2035.
However, numerous Western sanctions are creating obstacles, including for the new Arctic LNG 2 project, which has yet to export cargo after a preliminary start of production in December.
The project was to become one of the largest plants of its kind in russia with a final annual capacity of 19.8 million tons of LNG and 1.6 million tons of stable gas condensate from three production units or lines.
However, the newspaper's sources said that methane-to-liquid conversion at the plant has been suspended for the time being.
Addendum
It is noted that amid the sanctions, Gazprom also postponed the launch of a huge gas complex in the Baltic port of Ust-Luga after the withdrawal of Western companies, due to sanctions against russia for a full-scale invasion.
russia currently has two large LNG plants: "Yamal LNG, run by Novatek, which produced about 20 million tons last year, and Gazprom's Sakhalin-2, which produced more than 10 million tons last year.
Bloomberg: EU to cut Russian LNG imports this year17.03.24, 05:30
Recall
Earlier, Bloomberg reported that russia's oil refining fell to its lowest level in 11 months due to Ukrainian drone attacks on refineries and massive spring flooding in several regions.