Russia will insure Nord Stream with the Northern Sea Route
Russia is ready to change the balance of the global gas market towards increasing the share of liquefied natural gas (LNG).
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Russian President Vladimir Putin announced this today at a meeting within the framework of the Russian Energy Week, a PolitNavigator correspondent reports.
“We are thinking about it, preparing for it. The costs of LNG delivery will decrease, but for now it is expensive. We are building an LNG plant in Yamal together with China, Japan and France. We are planning the development of LNG generation in the Far East and Sakhalin. We plan to increase supplies to the Asia-Pacific region and Western Europe. I am confident that no surprises will take Russia by surprise,” Putin said.
According to him, Russia will use the Northern Sea Route to transport LNG to Europe. For this purpose, a unique icebreaker fleet is already being built.
“We are introducing the icebreaker Siberia, it will break 3 meters thick. In a year we will introduce an icebreaker that will break ice without restrictions,” Putin said.
At the same time, the President of the Russian Federation noted that LNG production is still quite expensive.
“There is stagnation in the LNG market. We see this in Europe, where the utilization of LNG terminals is at its lowest in recent times. Conversely, the use of pipeline transport has increased dramatically. This suggests that the competitiveness of LNG is currently inferior to pipeline gas,” Putin said.
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