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LNG trade will surpass natural gas trade by 2035 — BP-Russia

According to BP-Russia vice president, in 2016-2017 more than 90 bln cubic meters of LNG will emerge on the market and LNG supplies will surge five-fold within the next five years

© Alexandr Semenov/ITAR-TASS

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BERLIN, June 23. /TASS/. LNG trade may surpass natural gas trade by 2035 while competition on Europe’s gas market may strengthen, Vice President of BP-Russia Vladimir Drebentsov said Thursday.

"By 2035 LNG trade will surpass natural gas trade. From the viewpoint of cooperation between Russia and Europe this may be viewed as a signal that competition will be principally different," he said.

According to Drebentsov, in 2016-2017 more than 90 bln cubic meters of LNG (liquefied natural gas) will emerge on the market and LNG supplies will surge five-fold within the next five years.

"This volume will get to the market in any case as a result of investment decisions made earlier," he added.

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