Energy Strategy: Russia's LNG exports to reach 142 bcm by 2030 in target scenario, 241 bcm by 2050

MOSCOW. April 14 (Interfax) - Russia's liquefied natural gas (LNG) exports under the target scenario of the approved Energy Strategy until 2050 will reach 142 billion cubic meters in 2030 and 241 bcm in 2050, the document said.

Russia's LNG exports totaled 45 bcm in 2023.

Key performance indicators include increasing LNG production from 32.34 million tonnes in 2023 to 90-105 million tonnes by 2030, 110-130 million tonnes by 2036, and 110-175 million tonnes by 2050.

Specifically, to achieve the production target of 100 million tonnes by 2030, the strategy plans to complete Arctic LNG 2 (19.8 million tonnes) and the Ust-Luga project (13.2 million tonnes), while constructing Obsky LNG (4.8 million tonnes), Murmansk LNG (20.4 million tonnes) and Arctic LNG 1 (19.8 million tonnes) in addition to existing projects Sakhalin-2 (9.6 million tonnes) and Yamal LNG (17.4 million tonnes).

"LNG will play a significant role in global gas trade due to its flexible logistics. By 2050, the total capacity of proposed LNG plants could approach 1 billion tonnes, more than doubling current levels. Consequently, competition in the global LNG market will only intensify," the document said.