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Russia expects its natural gas exports, including via pipeline and LNG, to jump twofold by 2030 and threefold to 2050 under its new long-term energy strategy approved by the government on Monday. Crude oil and condensate production is targeted to increase from 531 million metric tons per year, or 10.66 million bpd, by 2050.
To do this, demand must fall by 110 bcm per year until 2030. Under current trends, global gas demand is set to peak before the decade’s end. Bringing forward this peak in line with climate imperatives can bolster economic growth, security, and resilience.
The report projects India's natural gas consumption to increase by nearly 60% to reach 103 billion cubic meters (bcm) per year by 2030, positioning the country's consumption levels.
Read more Russia targets major surge in natural gas exports by 2050 Summary : Russia aims to double its natural gas exports by 2030 and triple them by 2050 under its new energy strategy. The country’s gas exports are expected to increase from 146 bcm in 2023 to 293 bcm by 2030, and up to 438 bcm by 2050.
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