Russia Should Formulate Int'l Strategy on Gas Sales: Putin

March 27, 2012
Russia should map out a strategy of selling gas on the international market in the future, Prime Minister and President-elect Vladimir Putin said Friday.

"Our strategy must be built on the presumption that consumer demand on gas will grow in the domestic market, Europe and the Asia-Pacific region," Putin told a gas industry meeting in Leningrad region.

"Russian gas reserves are the world's largest (and amount to) nearly 50 trillion cubic meters. Still, we have to carry out geological research in new territories, including the Arctic shelf, " he said.

Putin also stressed that Russia should develop the liquefied natural gas (LNG) market more actively.

"Only one major project, Sakhalin-2, is so far being pursued. New LNG plants should appear within the next few years as part of the development of the Yamal and Shtokman fields," Putin said.

Russian LNG should play a significant role on global energy markets, he said.

According to local experts, Russia's gas supply for domestic and international markets in 2012 will exceed the volume in pre- crisis 2007.

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