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Russia needs to find resource base for LNG projects — Deputy PM

"There is a need to further find the resource base for projects amounting to 34 mln metric tons of LNG per year more, organize comprehensive interaction among authorities and companies, support localization of large-capacity and medium-capacity equipment for the LNG industry, and work out measures of lowering administrative barriers," Alexander Novak said

MOSCOW, March 7. /TASS/. Russia needs to find the resource base for LNG projects with capacity of 34 mln metric tons of LNG per year to boost production to 100 mln metric tons, Deputy Prime Minister Alexander Novak said on Tuesday.

"The strategic task and the future for our gas exports is LNG production development, which should reach at least 100 mln metric tons per year in the midterm. Production in projects implemented to date is about 33 mln metric tons. Russia will achieve production of 66 mln metric tons of LNG per year, taking into projects at the construction stage, plants in Ust-Luga and the Arctic LNG 2," Novak said.

"There is a need to further find the resource base for projects amounting to 34 mln metric tons of LNG per year more, organize comprehensive interaction among authorities and companies, support localization of large-capacity and medium-capacity equipment for the LNG industry, and work out measures of lowering administrative barriers," the official added.