Our country could become a global leader in liquefied natural gas (LNG) production, says Professor Alexey Fadeev from the Higher School of Industrial Management at Peter the Great St. Petersburg Polytechnic University.
Currently, Russia’s LNG production is estimated at around 33 million tons per year. The Russian government has set a goal to double this volume, with the strategic aim of producing at least 100 million tons of LNG annually by the end of 2024. Fadeev notes that this plan makes Russia competitive even compared to leading countries in this field, such as Qatar. Notably, the total capacity of potential Russian LNG production, considering the launch of all prospective projects, is estimated at over 200 million tons of gas per year.
The expert expresses confidence in the prospects of Russian LNG production, highlighting that the country already has more than 70 gas liquefaction projects that continue to develop despite sanctions. Fadeev also emphasizes the importance of import substitution and state support in replacing equipment for gas liquefaction—especially now, when Russian pipeline gas supplies to the EU have significantly decreased.
In conclusion, the economist notes that the development of the domestic standardization system for oil and gas equipment and technologies in this sector is crucial for achieving technological sovereignty, and LNG production in Russia is only gaining momentum.
Photo: Sputnik / Vladimir Pesnya