Russia abandoned plans to triple LNG production due to international sanctions - Bloomberg
Kyiv • UNN
Russia has postponed plans to triple its annual liquefied natural gas production due to international sanctions. Russian Deputy Prime Minister Alexander Novak said that achieving the goal of producing 100 million tons of LNG per year would be delayed by several years.
Russia's plans to triple annual liquefied natural gas (LNG) production have been delayed by several years due to international sanctions. This was stated by Russian Deputy Prime Minister Alexander Novak, reports UNN with reference to Bloomberg.
Details
According to him, Russia previously planned to produce 100 million tons of LNG per year.
Obviously, due to sanctions restrictions, there will be a delay of several years in achieving this goal
The publication indicates that Russia sought to achieve a 20% global LNG market share. However, Western countries, including the United States, have imposed several rounds of energy sanctions, including on liquefied natural gas, to reduce the Kremlin's revenues that finance the war in Ukraine.
Recall
According to Bloomberg, Russia's liquefied natural gas supplies to China more than doubled compared to last year, reaching 1.6 million metric tons in November. This allowed Russia to overtake Australia and become the largest supplier after Qatar.