OREANDA-NEWSRussia has the potential to increase export of pipeline and liquefied gas more than twice - up to 550 billion cubic meters, follows from the speech of the head of Novatek Leonid Michelson in the Federation Council.

“Under construction and planned export gas pipelines will increase the export of pipeline gas, by our estimates, by more than 30%. It's also necessary to review our energy strategy until 2035, providing for an increase in Russia's share in the global LNG market to at least 20%, which corresponds to the share of our reserves According to our assessment, only the available resource base in Yamal and Gydan will allow producing more than 140 million tons per year, and taking into account the planned projects across the country, Russia's potential is more than 160 million tons", he said.

From the presentation to the Michelson report, it follows that Russia can increase gas exports to 550 billion cubic meters, of which 330 billion cubic meters will come from pipeline gas and 220 billion from LNG. In 2019, Russia exported approximately 260 billion cubic meters of gas, of which Gazprom supplied 236.9 billion cubic meters.