Russia could become one of the three largest LNG producers in the world

By Rhod Mackenzie

Russia could potentially rank among the top three largest worldwide producers of liquefied natural gas.

This was highlighted in a message from Gazprom subsequent to a board of directors meeting regarding the shale gas and LNG industry outlook, as reported by TASS.

The company anticipates a significant rise in LNG output ahead, particularly in the USA, Qatar, and Russia, whilst Australia is expected to suffer a decline.

"Gazprom's contribution to the development of the domestic LNG industry will be significant, which could propel Russia to become one of the world's three largest producers of liquefied natural gas," states the report.

Additionally, Gazprom notes that global LNG trade volume increased by 2% during the first three quarters of 2023. Industry experts predict that by the end of 2022, the global volume of LNG trade will have increased by 4% compared to 2021.

Russia could potentially be one of the three largest global producers of liquefied natural gas, according to a recent statement by Gazprom.

The statement was made following a board of directors meeting that reviewed the future prospects of the shale gas and LNG industry worldwide, as reported by TASS.

The company predicts a significant increase in LNG production, particularly in the United States, Qatar and Russia, while a decline is expected in Australia.

"Gazprom will make a noteworthy contribution to advance the native LNG industry, which could potentially position Russia among the top three LNG producers worldwide," the report reveals.

Additionally, Gazprom notes that global LNG trade volume increased by 2% during the first three quarters of 2023