Regional Focus: Russia Ready to Control 20% of Global LNG Market by 2030

Russia plans to increase its annual LNG production to 140 MMtpy by 2035. This increase in production—part of Russia’s plans to diversify natural gas supplies—will enable the country to increase its global LNG production market share to 20%. The implementation of these plans will be part of the existing long-term program for the development of LNG production in Russia. The program also includes additional production of LNG equipment and machinery within Russia, the expansion of a resource base for LNG projects and the provision of economic incentives for exporters. The program eases the procedure of issuance of licenses for the development of gas fields, which serve as the resource base for