Construction of LNG facilities in Russia will take 10 years – Vladimir Putin
It will take some 5-7 or even 10 years to build up-to-date facilities for LNG production, RF President Vladimir Putin announced at the meeting of the Commission for Strategic Development of the Fuel and Energy Sector and Environmental Security, Kremlin press center informs.
Putin noted that Russia’s share in global LNG supplies makes only 3.6%.
“If we do not follow an active policy we risk to nearly yield this market to our competitors. It should be also taken into consideration, that it will take some 5-7 or even 10 years to build up-to-date facilities for LNG production. And, of course, you now that this is a very capital-intensive project,’ Putin said.
RF President underlined that it is necessary to create all the conditions for the development of this industry. In particular, possible stage-by-stage liberalization of LNG export and organization of the national production of technological equipment should be thought over.