The active development of the global liquefied natural gas (LNG) market poses risks for the sustainability of pipeline gas supplies, Russian Deputy Energy Minister Anatoly Yanovsky said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 28th May, 2020) The active development of the global liquefied natural gas (LNG) market poses risks for the sustainability of pipeline gas supplies, Russian Deputy Energy Minister Anatoly Yanovsky said on Thursday.
"There is an active development of the LNG market, and almost all gas producers are engaged in its production, which obviously creates risks for the stability of pipeline gas supplies, which are currently the basis for gas supply," Yanovsky stated during the Risk Management in Energy international online conference.
The deputy minister added that Russia had enough mechanisms to ensure fair competition between LNG and pipeline gas supplies, but there was currently no need to apply certain measures in this area.
In late April, Russian Energy Minister Alexander Novak said that the country had increased its LNG production by over 17 percent in the first two months of 2020 despite the difficult market situation, while over the past year, LNG production rose by over 50 percent compared to 2018.
