The Ministry of Energy predicts that Russia will conquer a third of the LNG market
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Russia’s share in the global liquefied natural gas (LNG) market could increase to 30% by 2035 from the current 7%. This was stated on October 31 at the St. Petersburg International Gas Forum (SPIGF-2023) by First Deputy Minister of Energy Pavel Sorokin. According to the official, such plans are being considered in the preparation of Russia’s Energy Strategy for the period up to 2050.
“Great emphasis [в проекте энергостратегии] is being done in the LNG segment. Our goal is 100 million tons of LNG by 2030, and we expect to occupy up to 30% of the world market by 2035,” Sorokin explained (quoted by Prime). Previously, the Ministry of Energy and the government assessed the potential for Russia’s share of the global LNG market to grow to 20–25%.
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