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Russia Seeks to Break LNG's Vicious Circle of Sanctions
Russia has pledged to support domestic LNG equipment producers in a bid to break the vicious circle created by sanctions. Domestic equipment is key to making Russia’s LNG expansion plans possible, although the international sanctions against the industry have reduced the number of future projects, in turn limiting the potential for long-term demand for the equipment, industry experts say. Russia still hasn’t changed its target of tripling LNG production to 100 million metric tons per year by 2030 from some 33 million tons in 2023, even though EU technology sanctions over Russia’s 2022 invasion of Ukraine, along ... (full story)