The Voice of Russia: Russia plans to expand liquefied natural gas production by 2018

The importance of Liquefied Natural Gas to the Russian economy has been highlighted by a new report from GlobalData, the market intelligence company which says Russia plans to greatly increase LNG production, especially through the state-owned company Gazprom to some 25 million tonnes by 2018. VoR's Tim Ecott spoke to Dr. Anna Belova of GlobalData.

Gazprom has expressed plans to expand beyond pipeline-based gas marketing into Liquefied Natural Gas (LNG) as it aims to extend its reach into Asian demand centres. The company has committed to expanding its liquefaction capacity by 250% to 25 million tonnes per year in 2018 in order to secure a larger share of the global LNG market.

Rosneft and Novatek, backed by foreign partners, plan to bring new liquefaction plants online by 2018. The two companies are the main beneficiaries of recent regulatory changes in Russia, expanding gas export options beyond Gazprom. Based on announced development plans, the two companies will account for almost 50% of Russian liquefaction capacity by 2018.
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