Russia has not adjusted its target to produce up to 140 million tons of liquefied natural gas (LNG) per year by 2035, Russian Deputy Prime Minister Alexander Novak said on Thursday
TEHRAN (Pakistan Point News / Sputnik - 26th May, 2022) Russia has not adjusted its target to produce up to 140 million tons of liquefied natural gas (LNG) per year by 2035, Russian Deputy Prime Minister Alexander Novak said on Thursday.
"We have not yet corrected the LNG (production) target. We are working to achieve the volumes set in our strategy, taking into account that we will use Russian technologies," Novak told reporters, commenting on the LNG production strategy adjustments.
He added that the program for the development of Russian technologies has been adopted and it will be implemented without complications.
Western countries have imposed a number of sanctions against Russia after it launched a military operation in Ukraine. In April, the European Union banned the supply of semiconductors and equipment for LNG production to Russia. Industry experts have expressed fears that these restrictions will force Russian oil and gas companies to push back the implementation of large-scale LNG projects.
Later in April, Russian President Vladimir Putin at a meeting of the oil and gas industry representatives underlined the need to continue developing oil and gas processing in Russia. He said that it is important to additionally support projects that are already at the investment stage to put them into production.