Russia reveals energy policy priority

Russia has announced that it plans to significantly increase its production of liquefied natural gas (LNG) in the coming years. The news comes as the country looks to strengthen its position in the global energy market and diversify its energy sources.

Russian energy minister Alexander Novak made the announcement at the St. Petersburg International Economic Forum, saying that Russia will more than double its LNG production from the current level of 18 million tons to 45 million tons by 2035. The majority of this increase will come from Russia’s Yamal LNG project, a joint venture between Russia’s Novatek and French energy giant Total.

The move comes as Russia looks to capitalize on the growing global demand for LNG. With many countries shifting away from coal and other fossil fuels in an effort to reduce their environmental impact, demand for natural gas is expected to grow significantly over the next two decades.

Novak also said that Russia would be investing heavily in the development of renewable energy sources, such as solar and wind power. He added that the country has plans to increase its share of renewable energy to 6 percent by 2035, up from its current level of 1 percent.

The announcement of Russia’s energy priorities is a clear indication of the country’s commitment to transitioning to a more sustainable energy system. It also shows that Russia is serious about expanding its role in the global energy market and becoming a major player in the growing LNG sector.