Russia predicts LNG output to increase

2023-10-03 05:40:34

(MENAFN) The year-on-year capacity of liquefied natural gas (LNG) output in Russia is estimated to carry on increasing to make 47.3 million tons in the next year in agreement with the nation’s energy development program.

Based on official documents, fuel production is going to soar by 40 percent in 2024. By the end of this year, output capacity is predicted to amount to 33 million tons.

Rosstat, the official statistics agency, reports that Russia produced 32.5 million tons of LNG in 2017, a rise of 8.1 percent from the previous year. Between January and August of 2023, output dropped to 20.9 million tons, a 5.3 percent yearly decline.

In October, Russian Energy Minister Nikolay Shulginov reported to RIA Novosti that the nation's present LNG production is insufficient to meet the escalating demand for Russian fuel on the international market.

Aleksandr Novak, the vice premier, has previously stated that Russia intended to boost its LNG export quota to make up for a decrease in pipeline gas supplies to Western Europe.

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