Russia might independently organize production of liquefied natural gas (LNG) using Russian technologies by 2020-2022, the country’s deputy energy minister said.

"I think we will create it by 2020-2022. That would allow us to organize LNG production using Russian technologies regardless of the external situation, with volumes of at least 5 million tons per year," Kirill Molodtsov was quoted as saying by Russian news agency Tass.

According to him, by 2020 Russia will reduce the share of foreign cryogenic facilities from 50 per cent to 40 per cent, LNG plants from 67 per cent to 55 per cent, booster compressor plants from 60 per cent to 45 per cent.

Molodtsov added that Russia’s Energy Ministry expects progress on establishing production facilities of foreign engineering companies in Russia this year.

"Practically all European engineering companies are interested in cooperation with Russian companies, and we expect this year there will be some obvious progress on localization (of production - TASS) and defining licensing conditions," he said.

Molodtsov stressed that he sees the growing interest of foreign companies towards the Russian market.

"Already, there is a certain return to what we had before the beginning of this case with sanctions. Foreigners understood that it is better to work with us, we form a stable effective demand and, of course, they are interested in it," he concluded.