Cabinet expects Russia’s share on global LNG market to rise to 20%, says PM

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MOSCOW, June 7. /TASS/. Russia’s government plans to gradually increase the share of the country on the global market of liquified natural gas to 20% considering the rise in supplies to Asian-Pacific countries, Prime Minister Mikhail Mishustin said at a meeting with deputy prime ministers on Monday.

Speaking about the increase in supplies to Asian-Pacific states, PM said: “The issue is about a promising, growing market with high energy consumption.”

“We are actively expanding infrastructure to increase deliveries in this direction and take firm positions there,” he said, adding that “Russia’s share on the global market is expected to eventually increase to 20%.”

The Russian government plans to allocate more than 21 bln rubles ($288 mln) for construction of an approach channel to the LNG terminal in Kamchatka, with over 5 bln rubles to be spent this year, Mishustin noted.

“The new terminal will allow transshipment of more than 20 mln tonnes of liquified natural gas per year,” he said.