Russian liquified natural gas (LNG) is well positioned to compete with North American projects to reach new markets in Asia and the Atlantic Basin, global commodities information provider S&P Global Platts quoted a Shell executive as saying.
LNG is a fuel that has been cooled to liquid form so it takes up less volume and is cheaper to store and ship.
Russian LNG can offer at least three location options to produce the fuel, Platts quoted Shell's senior deal lead Stuart Bradford as saying at the LNG Congress in Moscow.
He pointed to the Far East, where there is planned capacity expansion at a plant in Sakhalin, the Yamal LNG and Arctic LNG 2 projects in the Arctic led by Russian Novatek and the Baltic coast with the Baltic LNG project.
But Russia is facing a challenge from North America as capital expenditure is generally lower there.
"Projects are built in a mature market," he said. North American projects also benefit from special partnerships, supported by a low-tax regime.
Russia’s wants to raise its share of the global LNG market to as much as 20 percent by 2035, after having doubled its share to 8 percent last year.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
