NATGAS: Russia to Fall Short of 100 MTPA LNG Target Due to Sanctions
Dec-26 17:15
Russia’s lofty goals of contributing 20% of global LNG by 2030-2035 with 90 MTPA – 105 MTPA by 2030 has been pushed back by several years, according to Deputy Prime Minister Alexander Novak on state TV
- Western sanctions and embargoes paint a dismal demand picture for Russian molecules as America piles sanctions on Russia’s flagship project, Arctic LNG 2, and brings to market a flurry of new LNG projects.
- The EU also plans to stop importing Russian LNG from Jan. 1, 2027.
- Murmansk LNG, which is slated to become Russia's largest LNG plant, with eventual output of 20.4 MTPA, also faces delays, according to the Deputy PM.
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