Russian Deputy Prime Minister Alexander Novak said that sanctions have thwarted Moscowʼs plans to triple its annual production of liquefied natural gas (LNG) for several years.
Bloomberg writes about this.
According to Novak, Russia planned to reach 100 million tons per year, but due to sanctions, production of such a volume will be delayed for several years.
Russia previously sought to capture 20% of the global LNG market by 2030. Sanctions from the US and other countries have limited project financing and supplies abroad, with the exception of Novatekʼs Yamal LNG, Bloomberg writes.
Yamal LNG is a large-scale Russian liquefaction project based on the resources of the Yuzhno-Tambeyskoye field on the Yamal Peninsula. The project includes a plant with a capacity of up to 16.5 million tons of LNG per year.
Despite the restrictions, Russia has become the second largest supplier of LNG to China. In September, China and Russia signed a memorandum on the construction of the Power of Siberia 2 gas pipeline to China via Mongolia.
Compared to last year, supplies from Russia more than doubled to 1.6 million tons per month, making Russia the second largest supplier of LNG to China after Qatar, overtaking Australia.
In the first 11 months of 2025, Russia produced almost 30 million tons of LNG.
- On October 23, Donald Trump signed sanctions against two of Russiaʼs largest energy companies, “Lukoil” and “Rosneft”. They were supposed to take effect on November 23, but on November 15, the restrictions on “Lukoil” were postponed until December 13.
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