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23 November 2021, 18:45

Gazprom’s Board of Directors took note of the information on the growth prospects of the shale gas and liquefied natural gas (LNG) industries around the world, as well as the opportunities and threats facing the company.

It was highlighted during the meeting that only a few countries were producing shale gas in 2020, with the United States accounting for 95% of the shale gas extracted. Current forecasts are that no other country is expected to develop its shale industry at rates comparable to the United States, even in the long term.

Due to the growing importance of the environmental agenda, shale gas produced using hydraulic fracturing technology is increasingly seen as a “dirty” energy source. As a result, some buyers are abandoning plans to import LNG from the United States while environmentally friendly international companies sell their shale assets.

In China, the amount of shale gas produced in 2020 was down by a third of the target set by the government due to the complex geological structure of the country’s shale fields and the low profitability of their development. .

As for Europe, there are no expectations for the development of shale gas in the region.

Likewise, Gazprom does not plan to produce gas from shale fields due to the abundance of proven gas reserves in conventional fields, the development of which is more efficient from an economic and environmental point of view.

Regarding the development of the global LNG industry, it was noted that the momentum of final investment decisions on new projects picked up in 2021 against the background of the decision to expand production capacities. of LNG in Qatar. At the same time, 2021 saw the postponement of final investment decisions on a number of LNG plants in North America and Africa, as well as the cancellation of some LNG production projects.

In 2021, significant quantities of LNG were redirected to premium Asian markets, resulting in a reduction in gas supply across Europe and playing a major role in the significant growth in regional prices. The situation observed in 2021 proves that LNG supplies under short-term contracts cannot guarantee the energy security of gas-importing countries.

In 2020, Russia was the world’s fourth largest exporter of LNG, with around 40 billion cubic meters of LNG supplied. Thanks to the launch of new projects, including the largest LNG plant in north-western Europe, located near the agglomeration of Ust-Luga, and the LNG production, storage and shipping complex located near the Portovaya CS, our country will strengthen its lasting foothold in the global LNG market. It was stressed that the development of the domestic LNG industry should take into account the interests of the state, prioritizing the supply of natural gas to Russian consumers and discouraging competition among Russian gas exporters on foreign markets.

The year 2021 saw the practice of zero carbon LNG supplies expand further. During the current year, the Gazprom group delivered from its portfolio two cargoes of carbon neutral LNG produced in Russia.

In the future, increasingly larger quantities of LNG are expected to be used as fuel in maritime, inland waterway and road transport.

The Management Committee was tasked with continuing to assess the development prospects of the shale gas and LNG sectors around the world.


In March 2021, Gazprom delivered the first carbon neutral cargo of liquefied natural gas to the Atlantic Basin, with Royal Dutch Shell as the buyer.

In October 2021, Sakhalin Energy (Gazprom – 50% plus one share, Shell – 27.5% less one share, Mitsui & Co. Ltd – 12.5% ​​and Mitsubishi Corporation – 10%), the operator of the Sakhalin project II, unloaded the first cargo of carbon neutral liquefied natural gas from the Prigorodnoye production complex. Japanese Toho Gas was the buyer in this transaction.

Information Department, Gazprom

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