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ready to expand its exports and contribute to mitigating the global energy crisis.
Germany still trades Russian LNG as canceling costs over $10 billion. SEFE, a former unit of the Russian Gazprom nationalized by the German government last year, reportedly continues to fulfill its legacy 20-year contract from 2018 to ship out Russian LNG from the Yamal facility.
The planned production volume of liquefied natural gas (LNG) in Russia in 2024 will reach 47.3mn tonnes per year, according to the passport of the Russian state Energy Development program.
In 2023, LNG production in Russia in 2023 will amount to 33mn tonnes, while in 2024 it will be 47.3mn tonnes and stay at this level in 2025, the document says.
The Federal Statistics Service reported that LNG production over eight months decreased by 5.3% and amounted to 20.9mn tonnes.
Earlier, the Economic Development Ministry stated in its forecast that LNG exports from Russia at the end of 2023 will grow by 1.2%, to 33.3mn tonnes. At the same time, LNG exports are expected to reach 38mn tonnes in 2024, - 40mn tonnes in 2025 and 44mn tonnes in 2026.
Pakistan is interested in receiving liquefied natural gas (LNG) from Russia now and in the future, Russian Energy Minister Nikolay Shulginov told reporters at the Russian Energy Week forum. "Pakistan is interested in LNG supplies from Russia - in prospective supplies during the development of LNG production in Russia; they also require prompt supplies. Both matters are being discussed," the minister said. When answering a question about the volumes of potential supplies, the minister replied, "any that will be suitable for both parties as regards the terms."
Saudi Aramco agreed to buy a stake in MidOcean Energy at the end of Septeber, marking its first investment in liquefied natural gas. MidOcean is in the process of acquiring interests in four Australian LNG projects and is also part of a consortium to buy Sydney-based Origin Energy Ltd. Other investments may be on the horizon. Aramco’s Upstream President Nasir Al-Naimi said in an email Sunday the company is looking for more acquisitions. Officials have been in talks with exporters in the US this year, according to people with knowledge of the matter. The Saudi company has been trying to get into the natural gas space for a while. It hired a team of LNG traders in Singapore and was in talks with producers before the Covid pandemic upended negotiations. Aramco aims to spend $110bn developing the Jafurah gas field that will help double output by 2030 and make the kingdom a gas exporter for the first time. It’s also weighing exporting that gas as LNG.
123 RUSSIA Country Report November 2023 www.intellinews.com