Russia: Novak outlines plans to increase Russian LNG output

Russian Energy Minister Alexander Novak outlined Russia’s aims to increase it share of the global LNG market to “12 percent,” during an address in Moscow, Wednesday. The minister was speaking after a plenary session of the State Duma. Novak predicted that the LNG market would grow “especially in the Asia-Pacific region” and that Russia should be in a position to “participate in this market.” To achieve this Novak outlined numerous plans to increase the rate of the country’s gas production; including a new project coined “Yamal LNG” which is to be built on the Yamal Peninsula. As well as the new plant Novak touted new phases of building of the existing Sakhalin 2 plants and another plant which is to be built in Vladivostok.