Russia maintains plan to produce up to 100 mln tonnes of LNG a year by 2035; domestic gas deliveries increase 4% in 2024

MOSCOW. March 21 (Interfax) - Russia maintains its goals to increase liquefied natural gas (LNG) production to 100 million tonnes by 2035, which would allow the country to capture up to 20% of the global market for this type of fuel, Energy Minister Sergei Tsivilev was quoted as saying by the Energy Ministry following a meeting of the ministry's public council.

More than two thirds of the gas produced in the country is consumed by the domestic market, and the level of gas infrastructure coverage has reached 74.7%, the highest in the world, the ministry said.

"In 2024, gas deliveries to the domestic market increased 4.3%. One of the key factors driving this growth was the country's gas infrastructure development," Tsivilev said.

Gas deliveries to the domestic market amounted to 501 billion cubic meters in 2023, the Energy Ministry said. The figure thus reached 522.5 billion cubic meters in 2024.

The oil sector is also actively developing, with ongoing modernization of oil refining, and the yield of light petroleum products in 2024 exceeded 65%, the ministry said.