MOSCOW, June 10 -- Russia is projected to continue strengthening its position as the world’s leading exporters of natural gas over the next five years as its production growth will rise by 1.7 per cent annually, reported Sputnik news agency, quoting the International Energy Agency (IEA) on Wednesday.
"Production growth, at a rate of 1.7 per cent per year, is almost entirely driven by export-oriented projects, further solidifying Russia’s position as the world‘s largest natural gas exporter. This is accompanied by continued diversification away from Russia’s traditional gas-producing region, Nadym-Pur-Taz, caused by its maturing and gradually depleting fields," the IEA report read.
The agency refers to such Russian projects as the Arctic LNG-2 and the Power of Siberia pipeline system, among others.
Russia is planning to increase its liquefied natural gas (LNG) output to 46-65 million tonnes by 2024 and 70-82 million tonnes by 2035, the Russian Energy Ministry said last year.
