Russia is planning a major foray into LNG that needs to be completed by 2030, while LNG projects are still profitable. This is not a rumor circulating the Kremlin corridors but part of Moscow’s official energy strategy . And it could see the country produce 140 million tons of LNG annually by 2035. Building facilities producing liquefied natural gas is an expensive undertaking. They cost billions and tens of billions and need long-term buying commitments to make economic sense. Right now, several U.S. producers are facing an uncertain future because of the lack of such long-term agreements as a result of the pandemic and demand uncertainty that has spread from oil to all energy commodities. According to a report by Russian opposition daily VTimes, the rush to build LNG capacity as soon as possible, however, has nothing to do with the pandemic and its effects. It has to do […]