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Russia’s share on LNG market to rise to 20% by 2030 from current 8% — Novak

Alexander Novak said earlier that Russia intended to boost LNG production from 33 mln tons this year to 100 mln tons per year by 2030, with those volumes to be ensured by planned projects

MOSCOW, November 22. /TASS/. Russia’s share on the global LNG market will rise to 20% by 2030 from 8% in 2023, Deputy Prime Minister Alexander Novak said.

"Russia has already become the fourth largest LNG producer with an 8% share on the global market. The plan is to increase LNG production to 100 mln tons by 2030, with the share on the global market increased to 20%," he said addressing the Federation Council (upper house of the parliament).

Novak said earlier that Russia intended to boost LNG production from 33 mln tons this year to 100 mln tons per year by 2030, with those volumes to be ensured by planned projects.

According to figures provided by Russia’s state statistics service Rosstat, LNG production in January-September 2023 amounted to 23.6 mln tons, down by 4.4% year-on-year. In September, LNG production totaled 2.7 mln tons, up by 3.2% year-on-year, and up by 24% month-on-month.

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LNG Alexander Novak

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