Russia's annual LNG export target of 100 million tons has been postponed.

Statements from Russian Energy Minister Novak

Russia's Energy Minister Alexander Novak made important statements through the state channel Rossiya-24. He shared updates on the country's energy policies.

Siberia Power 2 Project is Ongoing

Novak stated that the Siberia Power 2 pipeline project, which will transport Russian gas to China via Mongolia, is continuing. 'Our companies and partners are in the final stages of completing commercial agreements for gas supply. We are looking forward to this development,' he said.

Oil Production Targets

Emphasizing that they plan to produce 540 million tons of oil annually in the medium term, Novak added, 'Our efforts to reach difficult reserves, especially in the Arctic region, are ongoing.'

Delay in LNG Export Target

Novak announced that the annual 100 million tons LNG export target will be delayed by a few years due to current sanction restrictions. 'We will continue to develop LNG production. However, it will take time to reach this target,' he stated.

Russia's LNG Facilities and Future Plans

Novak expressed that Russia is continuing the construction of LNG facilities and that this area is a critical element for energy industries.

Frozen Assets in Europe and Response Plan

Speaking about the frozen Russian assets in Europe, Novak said, 'A plan has been prepared for this situation, and a presidential decree has been adopted to provide a symmetrical response to such cases.'