Russia’s government approved on Monday the country’s long-term development program for liquefied natural gas (LNG), expecting production capacity to rise threefold from current levels to 140 million tons per year by 2035. “The program is based on a comprehensive approach, aimed at diversification of gas supply sources and first of all at an active use of resources of the Arctic shelf and the Far East,” Russia’s Prime Minister Mikhail Mishustin said at a meeting with deputy prime ministers on Monday, as carried by news agency TASS . Russia is also targeting increased LNG exports, considering the expectations of sustained growth in LNG demand and trade globally, Mishustin said. Global LNG demand is set to nearly double from 360 million tons last year to 700 million tons by 2040, thanks to continued solid demand from Asia and a rise in gas use for powering hard-to-electrify sectors, Shell, the biggest LNG […]