SAMARKAND, November 3. /TASS/. The global volume of the LNG market by 2030 will reach 750-800 bln cubic meters (bcm), LNG consumption will be about 190 bln, CEO of Novatek Leonid Mikhelson said.

"Due to its environmental characteristics and developed infrastructure and consumption, by 2030 the volume of the LNG market, we believe, will reach 750-800 bln cubic meters," he added.

Mikhelson estimated that by 2030, LNG demand will increase by another 30 bln cubic meters, totaling around 190 bln cubic meters.

He believes that Global LNG consumption will surpass predictions, with Asia accounting for the highest increase being over 200 bln cubic meters. "Because the European Union recognized natural gas as a transition source of energy a year ago, demand for LNG is likely to be higher than expected figures. Of course, Asia is expected to have the greatest increase in consumption. We think it's somewhere over 200 bln cubic meters," he said.

At the same time, growing global demand for liquefied natural gas (LNG) can only be satisfied by the resource bases of Qatar, Russia, and the United States, Mikhelson said. "Global demand will increase, and only three resource bases will be able to meet it - Qatar, Russia, and the United States. More than 70% of global liquefaction is now planned based on these reserves," he said.

Mikhelson noted that Qatar’s resource base is highly profitable, and decisions have now been made to maximize the expansion of LNG projects. "In 2026-2027, several new projects will be launched in Qatar, due to which, we believe, the situation with gas prices should stabilize," he said.