Western sanctions against Russia will not halt the development of its LNG sector, Russian Deputy Energy Minister Pavel Sorokin said on Wednesday.
“Those sanctions that have been imposed are illegal… We cannot say that they have gone unnoticed,” Sorokin said at the Eastern Economic Forum in the far eastern port of Vladivostok, adding that they would not stop the growth of the industry in Russia.
Global LNG demand may rise up to 600 million metric tons per year in next few years, Sorokin said.
“Everyone is actively switching to LNG, and LNG demand could grow from the current 400+ million tons to somewhere between 580-600 million tons in the next 6-7 years”.
(Reporting by Vladimir Soldatkin, Olesya Astakhova; Editing by Kim Coghill/Guy Faulconbridge)