Press review: Kiev’s cynical use of Russian MP's murder and Moscow skips ‘nuke ban’ talksPress Review March 24, 13:00
Kiev reveals identity of Russian politician’s killerWorld March 24, 12:19
Le Pen lambasts EU's 'diplomacy' of threats and blackmail towards RussiaWorld March 24, 11:58
Russia to launch R&D on new ground forces’ air defense systemMilitary & Defense March 24, 11:50
Russian State Duma speaker warns Ukraine increasingly turning into terrorist stateRussian Politics & Diplomacy March 24, 11:06
France’s National Front leader baffled by Paris’ hostile stance towards RussiaWorld March 24, 10:41
Russian Paralympians prepare for PyeongChang 2018 despite suspensionSport March 24, 9:23
Terrorist gang eliminated in foiled attack on National Guard in ChechnyaWorld March 24, 9:10
Senior Pentagon official calls for information strategy on RussiaWorld March 24, 8:42
MOSCOW, March 17. /TASS/. Russia’s Energy Ministry has predicts a 2% decline in the country’s oil production by 2020 with a risk of a 10% decline by 2035, the Kommersant daily reported on Tuesday.
The natural gas production forecasts have been downgraded due to dwindling prospects for LNG projects, at the same time officials are ready to admit independent producers to exports, maintaining the single sales channel represented by the natural gas monopoly Gazprom, said Kommersant that has received materials on Russia’s draft energy strategy until 2035.
This document was planned to be adopted at the beginning of last year, but it had to be finalised with taking into account the Western sanctions. Now the Energy Ministry that was preparing the draft even in the target scenario expects a decline in oil production in Russia by 2020 by 11 million tons to 514 million tons. Despite the production issues, the Energy Ministry expects by 2025 oil exports to grow by 15-17% because of the curtailment of downstream refining in Russia by 2035.
The forecasted 2035 natural gas production level has been downgraded from 936 billion to 885 billion cubic meters. Along with the forecasted decline in domestic consumption, the LNG production prospects have been cardinally - by 70% - downgraded: if a year ago the production volume by 2035 was projected at 100 million tons, then the current forecast expects only about 60 million tons.