U.S. sanctions hamper russia's plans to boost liquefied natural gas exports by sea - Reuters
Kyiv • UNN
The US sanctions are the main obstacle to russia's plans to increase exports of liquefied natural gas by sea. In this way, russia plans to compensate for the decline in pipeline gas exports to Europe.
US sanctions have become and remain a significant obstacle to russia's plans to compensate for the decline in pipeline gas exports to Europe by increasing exports by sea. of liquefied natural gas by sea. Writes Reuters, reports UNN.
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As the world's fourth largest producer of liquefied natural gas As the world's fourth largest producer of liquefied natural gas after the United States, Qatar and Australia, russia intends to significantly increase its share of the global market. about 20% of the market, although it currently holds about 8%. To do this, it needs to triple production to 100 million metric tons in the next decade.
Due to sanctions, russia has redirected oil exports from Western Europe to China and India. However, the impact of restrictive sanctions on the LNG market is more significant due to the relatively small number of of tankers that can transport LNG and russia's lack of access to technology and finance.
russia's efforts to to redirect gas sales to China through the "power of siberia 2" have not yet been successful so far. At the same time, the Arctic LNG 2 project, which is controlled by novatek, is facing problems due to sanctions. This was reported to the publication by three industry industry sources. They clarified that commercial LNG supplies from this project are expected not earlier than the second quarter of 2024 or later. Although novatek predicted that they would start in the first quarter.
