According to the new energy strategy, Russia intends to achieve a production of 853 billion cubic meters of gas per year by 2050, which is 33% more than the level in 2023. A significant increase in gas exports is planned, with exports expected to nearly double to 197 billion cubic meters by 2036, and by 2050, gas production will exceed 1 trillion cubic meters.
This is reported by Business • Media
Efforts to Increase LNG Exports and Challenges Related to Sanctions
Russia aims to significantly expand its production of liquefied natural gas (LNG), but Western sanctions pose a barrier to this goal. According to plans, LNG exports are set to increase more than fourfold over 25 years, reaching 241 billion cubic meters. However, without substantial investments, technological breakthroughs, regulatory changes, and the lifting of sanctions, the country may face a decline in oil production and even a disappearance from the global oil market in the coming years.
Forecasts suggest that if current trends continue, oil production will decrease from the current 530-540 million tons per year to 287 million tons by 2050. Oil exports will drop from 234 million to 79 million tons per year. Under conditions of intensified Western sanctions and a global shift to clean energy, by 2050, Russia may only be able to produce 171 million tons of oil annually, and exports could cease entirely.