Russia still plans to increase LNG production to 100 mln tonnes by 2030 - minister

MOSCOW. Oct 9 (Interfax) - - The liquefied natural gas market's development remains a priority for Russia, Energy Minister Sergei Tsivilev said during the plenary session of the St. Petersburg International Gas Forum.

"We have reached 34 million tonnes, which is 8% of world LNG production. We are not deviating from our plans: by 2030 we must produce 100 million tonnes, with an increase in our share in the global LNG market," he said.

The estimate for Russian LNG exports in 2025 has been reduced from 40 million tonnes to 35.7 million tonnes, it has been reported with reference to the Economic Development Ministry's 2025-2028 macroeconomic forecast. The forecast for 2026 has been lowered from 45.2 million tonnes to 40.3 million tonnes, for 2027 from 58.4 million tonnes to 46.9 million tonnes and for 2028 from 73.6 million tonnes to 58.4 million tonnes. The conservative scenario for Russian LNG exports provides for even lower estimates for the next three-year period: 37.7 million tonnes for 2026, 40.3 million tonnes for 2027 and 46.9 million tonnes for 2028.

The EU intends to include a ban in LNG imports from Russia in its 19th sanctions package.

Russia's bulk LNG producers are Sakhalin Energy, owned by Gazprom , Mitsui and Mitsubishi; and Yamal LNG, owned by Novatek , TotalEnergies and China's CNPC and SRF; and Cryogas-Vysotsk and Gazprom LNG Portovaya on the Baltic coast.