Russia could win up to a quarter of the global LNG market
Natural gas is the most environmentally promising source of energy today, Russian Energy Minister Alexander Novak said when greeting the participants of the 9th LNG Producer-Consumer Conference held virtually on Monday.
“It is natural gas, together with renewable energy sources, that allows us to meet the current objectives on cutting GHG emissions over the next decades. Over the past ten years, LNG consumption has increased 4 times faster than natural gas extraction while the number of importing countries has more than doubled”, he said.
According to the Minister, in 2019, Russia processed 40 billion cubic meters of natural gas into LNG, up 49%, year-on-year. By 2025, Russian projects are expected to reach an overall annual production capacity of 68 million tonnes.
“Moving forward, Russia could win up to a quarter of the global LNG market”, added Alexander Novak.
When speaking at the Conference, Elena Burmistrova, Deputy Chairman of the Management Committee, PJSC Gazprom, said that Gazprom plans to start supplies from its new LNG production facility located near compressor station Portovaya (Leningrad Region) at the end of 2021 Gazprom года.
CS Portovaya project has a capacity of 1.5 million tonnes. We have high hopes for launching the project in the nearest time, in 2020. It is unique project, first of all technologically, since it foresees handling of ships from 3,000 to 174,000 cbm in capacity”, said Kirill Neuymin.
A facility for production, storage and handling of liquefied natural gas near KS Portovaya will be located in the Vyborg District of the Leningrad Region, on the North-East coast of the Gulf of Finland, between the Portovaya and Dalnaya bays, on the Konyok cape. It annual capacity is estimated at 1.5 million tonnes. The project is focused on the market of the Baltic states and the countries of the North Sea, as well as LNG bunkering in the Baltic Sea.
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