Russia in 2024 risks losing world leadership in gas exports. It is reported by RIA Novosti with reference to the Cabinet of Ministers.
According to the action plan for the implementation of the energy strategy of Russia, in the period from 2021 to 2023, the country will continue to lead in the list of the largest gas suppliers to the international market. However, for 2024, the forecasts are less optimistic: Russia may fall onto the second line.
For the past decades, Russia has steadily has been the largest gas supplier for international markets. According to OPEC, for 2019, Russia exported about 261 billion cubic meters of blue fuel. In second place was Qatar with an indicator almost two times less – 143 billion cubic meters.
However, now Qatar plans to expand production capacity, which can help the country to break out the first position. The potential of production growth is also in the USA, where there are large stocks of shale gas.
According to the director of the Natural Resources Group and Commodity Agency Fitch Dmitry Marinchenko, to increase exports and defend the championship Russia will be able to thanks to new pipelines to China and the implementation of LNG projects.