Pavel Zavalny: by 2035 Russia will have at least 15%of the global LNG market
Moscow. According to Alexander Novak, the RF energy minister, implementing the full potential of the LNG segment will enable Russia to add 100 bln cubic meters of gas for export, making Russia one of the global leaders in the sector.
Pavel Zavalny, the chairman for the State Duma Committee of Energy talked about the influence of the developing LNG market on Russia’s economics in his interview to the Oil and Gas Information Agency.
- The share of gas in the global consumption will increase because of the general changes in the energy balance. This refers to both pipeline gas and LNG. The current share of gas in the global consumption is about 22-23%, but it is predicted to exceed 26% by 2040.
Currently LNG accounts for about 30% of gas sales, while pipeline gas takes up 70%. However, the LNG share will continue to rise and may reach 50%.
LNG enables us to make the gas market global due to the fact that its production cost is decreasing and its transportation to the consumers is also getting cheaper. LNG’s competitive advantages are the key reasons for its increased supply and demand.
Speaking of Russia, it takes up about 4.5% of the global LNG sales, but it is planned to reach 15% of the global supply by 2035.