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Energy ministry forecasts growing demand for Russian gas until 2035

January 23, 2014, 15:57 UTC+3 MOSCOW
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MOSCOW, January 23. /ITAR-TASS/. Russia’s energy strategy until 2035 envisages a moderate growth of fuel exports by 0.7 percent a year, the Energy Ministry said on Thursday, adding that a demand for Russian gas would increase at a higher pace - by 1.9 percent a year on the average.

The share of gas, mainly liquefied natural gas, in Russia’s total exports would grow, while exports of oil and oil products would register a slump, the ministry said. Russia’s gas output will reach 935 billion cubic meters and gas consumption - 585 billion cubic meters by 2035.

According to the strategy, “Russia will remain a leading player on the hydrocarbons market, cautiously boosting its exports. It will actively participate in the development of electric power and coal markets and will strengthen its positions in the global nuclear power.”

The share of gas in Russia’s energy consumption will stabilise until 2035.

The Asia-Pacific Region will account for a higher share of Russian oil and gas exports that will snowball from the current 6 percent to 31 percent by 2035.

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