Russia Plans to Boost Gas Output by 40% by 2035

Russia aims to boost natural gas output by as much as 40 percent by 2035, President Vladimir Putin said while addressing GEFC summit Monday.

"Preparing the draft national energy strategy until 2035, we include a significant - 40 per cent increase in natural gas production. If in 2014 we produced 578 billion cubic meters, then by 2035 we plan to produce 885 billion cubic meters," TASS quoted Putin as saying.

He added that Russian will increase focus on exporting gas in the eastern direction mainly to countries in Asia such as China and India.

Putin stated, citing estimates, that demand for gas in the world by 2040 will grow by 32 percent - to nearly 5 trillion cubic meters, while in 2014 the figure stood at 3.7 trillion cubic meters, TASS reported.