Russia is outlining a bold expansion plan for its liquefied natural gas and LNG exports, aiming to lift total gas production from 33 million tonnes in 2023 to about 110 million tonnes by 2030. The projections were presented by Deputy Prime Minister Alexander Novak during a keynote at the International Exhibition and Forum called Russia, held at VDNKh, and were reported by TASS. The figures point to a significant step change in how Russia positions itself in the global LNG market over the next decade.
Within this broader framework, regional expectations highlight substantial growth across several LNG clusters. The Yamal cluster is anticipated to grow from around 20 million tonnes to roughly 60 million tonnes by the end of the decade, marking a tripling of output. In the Baltic cluster, production is projected to increase from about 2.2 million tonnes to approximately 15 million tonnes, while the Sakhalin cluster is expected to hold steady at a level near 11 million tonnes. The plan also calls for a notable expansion of LNG-specific capacity, with LNG output targeted at 15 million tonnes from new or enhanced facilities and the Murmansk cluster forecast to reach around 20 million tonnes. These regional targets collectively underpin the country’s ambition to diversify supply routes and strengthen its position in global LNG trade.
Industry observers noted that global LNG demand is set to rise. Data from the Center for Price Indices indicated that in the first quarter of 2024 demand would reach a record high, around 114 million tonnes, reflecting an estimated increase of about 10 percent year over year. This growth environment aligns with Russia’s strategic intent to capture a larger share of the growing LNG market while balancing domestic needs and international commitments.
Recent reporting highlighted a surge in LNG imports from Russia by South Korea, with imports doubling in January according to industry trackers. This development underscores the continuing role of Russia as a key supplier in East Asia and the broader Pacific Rim, where demand patterns influence pricing, contract structures, and long-term supply planning.
Earlier, the Russian Ministry of Foreign Affairs announced shipments of LNG to France for a nine-month period in 2023, with a growth rate reported at around 41 percent. This extension illustrates the evolving dynamics of European energy imports and the importance of LNG as a flexible energy source for European buyers seeking to diversify away from pipeline gas or to hedge against seasonal supply disruptions.
In related statements, Moscow reiterated warnings to the European Union about the consequences of restricting Russian gas purchases. The exchanges around policy, energy security, and market access continue to shape strategic decisions on how best to balance energy exports with geopolitical considerations, long-term infrastructure investment, and the evolving regulatory environment in Europe and beyond.