Putin says Russia will reroute more gas to Asia

Eastbound supplies of Russian natural gas will continue to grow and could hit almost 90 billion cubic meters by the end of this decade, President Vladimir Putin said on Thursday at a meeting of the Strategic Development and National Projects Council.

He said the development of port and pipeline infrastructure to the south and east would be an important step to mitigate the impact of Western sanctions and other “hostile actions” against Russia.

“Implementation of such projects as the Kovyktinskoe Field, the Power of Siberia 2 and the Far Eastern route will make it possible to increase gas supplies to the east to 48 billion cubic meters by as early as 2025 and to 88 billion by 2030,” Putin said.

This would actually amount to more than 60% of gas supplies to the West in 2021, he noted.

According to the president, new liquefied natural gas (LNG) projects in Russia’s Yamal Region will make it possible to increase LNG production by 70 billion cubic meters, which will also allow for the diversification of export destinations.

For more stories on economy & finance visit RT's business section