Russia to supply Asia-Pacific with up to 15 mln tons of gas by 2018

Russia could supply the Asia-Pacific market with up to 15 million tons of liquefied natural gas by 2018, Russian Energy Minister Alexander Novak said Tuesday. "Total potential of supplies to European and Asian markets is currently equal to 41-46 million tons. The shipments to the market of the Asia-Pacific region will be playing an important role. By 2018, they could amount to 10-15 million tons," Novak told an international gas conference here. The minister said Russia's gas production could reach 950 billion cubic meters in 2030. However, the country's gas exports in 2012 would be down by 4-5 percent compared to 2011, due to the economic slowdown in Europe and resumption of natural gas shipments to world markets from Libya. In 2011, Russian gas exports rose by 21 billion cubic meters compared to that of 2010.