Sanctions Delay Russia’s Plan to Triple LNG Output, Novak Says
(Bloomberg) -- Russia’s ambitions to triple its annual liquefied gas production have been pushed back by several years amid international sanctions, according to Deputy Prime Minister Alexander Novak.
“Our task has been to reach 100 million tons” per year of LNG output, Novak said in an interview to a state TV channel published Thursday. “Clearly, due to sanctions restrictions, there will be a delay of some years” in achieving this target, he said, without providing a deadline.
Russia earlier aimed to produce 100 million tons of super-chilled fuel by 2030, reaching a global market share of 20%. However, western nations, including the US, have imposed several rounds of energy sanctions, including on LNG, in a move to reduce the Kremlin’s revenues that are funding the war in Ukraine.
The US has blacklisted all current and future Russian liquefied-gas projects, excluding the Yamal LNG led by Novatek PJSC, and sanctioned the fleet for shipments of the super-chilled fuel abroad. However, recently the discounted sanctioned cargoes have been finding home in China, which does not recognize the western restrictions.
Last month Russia became the single largest LNG supplier to the Asian nation, overtaking Australia.
Russia produced nearly 30 million tons of LNG in the first 11 months of 2025, Interfax reported on Thursday, citing data from the Federal Statistical Service.
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