Moscow, May 8 (Effect) .- Chinese companies demonstrated their interest in joining the Liquefied Natural Gas (LNG) project in UST-Luga, in the Baltic Sea, said Vice Prime Minister, Alexandr Nóvak on Thursday.
“Chinese companies are interested (in joining the UST-Luga project), this idea was expressed today. But details are usually completed during negotiations. Now what is discussed is the interest in this line of work,” Nóvak said.
According to Russia’s energy strategy document, approved in April, it is expected that the production of liquefied natural gas will increase the 32.3 million tons in 2023 to a maximum of 105 million tons in 2030.
This is expected to continue growing by 2036, standing at up to 130 million tons and up to possible 175 million tons in 2050.
To achieve the proposed production for 2030, the construction of Arctic LNG 2 (19.8 million tons) and the UST-Luga project (with 13.2 million tons capacity) must be completed.
In addition, to reach the same objective, OB LNG projects (4.8 million tons) and Murmansk LNG (20.4 million tons) should be built, which were paralyzed due to the western sanctions imposed on Russia following the war in Ukraine of 2022.
The China National Petroleum Company and the Fund of the Silk Route, respectively have 20 % and 9.9 % in the Yamal LNG project, as well as 10 %, each, of Arctic LNG 2, which is subject to US sanctions. Effect
