Vladimir Putin took part in a plenary meeting of the Russian Energy Week International Forum, presidential web page reported.
“The scale and interdependence in global energy is growing alongside its vulnerability, and that instability in some parts of the world affects supply and demand worldwide,” he said, addressing the forum participants. “Energy consumption will be growing in the next few years, primarily in the countries of the Asia-Pacific Region and in the traditional markets, such as Europe. Russia ensures stable, failsafe gas supplies to Europe and continues implementing large infrastructure projects, such as the Turkish Stream and Nord Stream 2. The marine section of the Turkish Stream is completed and work continues on the surface sections. Nord Stream 2 is also on schedule. The task of these projects is to diversify gas supply routes and remove transit risks, thereby enhancing Europe’s energy security. This is exactly why the logic of normal business relations prevails over attempts to keep energy hostage to political differences.”
“Russia’s share in the global LNG market has more than doubled to 9% thanks to the Yamal LNG project. Jointly with French, Japanese and Chinese companies, we are pursuing the Arctic LNG project that will yield another 20 mio tons of gas a year. Low extraction costs and attractive logistics make Russian LNG projects some of the world’s most competitive and allow us to expect long-term growth in our share of this dynamic market. We are set to reach 120–140 mio tons of LNG a year by 2035,” he stated.