MOSCOW, March 22. /TASS/. The demand for liquefied natural gas (LNG) can outpace its production in 2027 because of the crisis year of 2020, the Russian long-term LNG production development program says.

"The liquefied natural gas market is also characterized by an increase in potential and declared for implementation export projects of LNG production. Considering the contraction of demand growth rates in 2020, the forecast demand for liquefied natural gas will be above production in 2027. This is a potential window of opportunities for Russian projects on liquefied natural gas production, which are at the design stage now and whereupon no final investment decision was made," the document says.

Gas project may face the contraction of natural gas market growth rates and intensified competition after 2040, considering the existing trends in the energy sector. "The key driver of this trend will be improvement of technologies, making possible to reduce the generation cost for alternative energy sources. Such a decline may actually stop growth in use of fossil energy sources after 2035," according to the document.