The government will allocate 1 billion rubles for the development of LNG equipment
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The Russian government will send 1 billion rubles. to conduct research and development work to create equipment for the liquefaction of natural gas, informed Prime Minister Mikhail Mishustin at a cabinet meeting.
According to Mishustin, diversification of exports is one of the most important areas of Russian energy, and in order to expand the geography of deliveries, it is necessary, among other things, to “break through to promising markets” for LNG, for which it is important to manufacture our own equipment.
“The government will support the developers. Allocate 1 billion rubles. to compensate for the costs that arise when conducting research and development work using modern technologies,” Mishustin said.
These funds will allow launching and partially financing four projects this year to create LNG equipment for medium and large-scale production, the prime minister added.
On June 17, Deputy Prime Minister Alexander Novak announced at SPIEF 2022 that the government had approved a program to subsidize the development of its own technologies for liquefying natural gas. He did not specify how much money will be spent on subsidies. “If today only 30 million tons of LNG are produced in the Russian Federation, then in the future we can reach 100 million tons per year,” Novak added then. In turn, the co-owner and chairman of the board of Novatek, Leonid Mikhelson, spoke at SPIEF-2022 that for import substitution in the LNG industry, it is necessary to finance R&D by 24 billion rubles.
Today, two large-tonnage LNG projects are operating in Russia: Sakhalin-2, which produced 10.4 million tons of liquefied gas at the end of last year, and Yamal LNG.
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