Energy Ministry looking at economic efficiency of exploration and construction of Arctic LNG plants

MOSCOW. March 15 (Interfax) - Officials are working on ensuring the economic efficiency of geological exploration and the construction of LNG plants in the Arctic, Russian Energy Minister Nikolai Shulginov said during "government hour" in the State Duma.

"To further realize the resource potential of the Arctic, the Energy Ministry is working on ensuring the economic efficiency of geological exploration and the construction of LNG plants in the Arctic zone," Shulginov said.

He confirmed that the target for LNG production in Russia remains unchanged at more than 100 million tonnes per year starting in 2030.

"For this, it is necessary not only to allocate a sufficient resource base, but also to ensure technological sovereignty in the LNG industry," the official stressed.