Media: Sanctions have slowed Russia’s plans to triple liquefied gas production

International sanctions postponed for several years Russia’s plans to increase the annual production of liquefied gas – this was reported by the Deputy Prime Minister of the Russian Federation Oleksandr Novak, he said in a comment to the state channel, according to Russian media and an American publication Bloomberg.

According to Novak, the Kremlin’s task “was to reach 100 million tons” of liquefied natural gas production per year.

“Obviously, there will be a delay due to the restrictions on sanctions (in achieving the goal – ed.) for several years,” he said, without specifying the terms.

As reported by Bloomberg, Russia previously aimed to produce 100 million tons of supercooled fuel by 2030 and reach a global market share of 20%. At the same time, Western countries, including the United States, have imposed several rounds of energy sanctions, particularly on liquefied natural gas, to reduce the Kremlin’s revenues that finance the war in Ukraine.

The US blacklisted all current and future Russian liquefied gas projects, with the exception of Yamal LNG, led by Novatek. Washington also imposed sanctions against the Russian fleet for supplying supercooled fuel abroad.

However, recently, discounted consignments have begun to be used in Chinawhich does not recognize Western restrictions.

Bloomberg notes that last month, Russia became the largest supplier of LNG to the Asian country, overtaking Australia.

In November the Financial Times reported that American officials are actively touring European countries, promoting the supply of American gas and oil and pushing Russian fuel out of the market. According to them, Washington seeks to remove “every last molecule” of Russian gas from the European energy sector.