Russian liquified natural gas (LNG) production is forecasted to continue growing in line with the nation’s energy development program, to reach 47.3 million tons in 2024.

According to official government documents, by next year it is expected that fuel output will increase by 40%, with production volume projected to reach 33 million tons.

State statistics office Rosstat data shows Russian LNG production increased by 8.1% last year, to a total of 32.5 million tons. Output decreased between January and August this year by 5.3% in annual terms to 20.9 million tons.

In an interview with RIA Novosti this month, Russian Energy Minister Nikolay Shulginov said that Russia’s current production level of LNG is not enough to satisfy the global demand for the Russia fuel.

Deputy Prime Minister Aleksandr Novak had noted previously that Russia intends to increase its exports of LNG to offset the decline of pipeline gas exports to Western Europe.

Novak noted the country will need additional gas resources if it is to boost production by an additional 34 million tons per year in order to reach the targeted production level of its LNG development plan, of 100 million tons of LNG per year by 2030.