Putin calls for accelerated cooperation on LNG technologies with friendly countries

MOSCOW. Oct 11 (Interfax) - The negative impact of sanctions restrictions on the production of liquefied natural gas can be successfully mitigated through cooperation with friendly countries, President Vladimir Putin said during the plenary session of Russian Energy Week.

"Today we are faced with restrictions on the supply of technologies and equipment, as well as vessels for transporting LNG. However, I would like to repeat: in order to reduce these risks, we need not only cooperate with friendly countries, but also quickly prepare our own solutions and commission new production capacity. And it's happening; we're doing it," he said, citing the Novatek Center for the Construction of Large-Capacity Offshore Facilities as an example.

The President also recalled Russia's ambitious plans in the LNG field.

"In the next decade, production should triple to 100 million tonnes per year. Planned investment volume exceeds 6 trillion rubles, and it is very important that Russian projects realize their competitive advantage in the market, including efficient logistics. This, among other things, is the potential of the Northern Sea Route, as we all know well, those new ports and transport hubs that we are developing in the Arctic," he added.