Russia is setting records in gas pipeline exports despite US pressure on Europe to reduce imports, and aims to become the world’s leading liquefied gas exporter in the next decade thanks to technology it is developing at home.

Russian government officials and executives told an industry conference on Wednesday they expect Russia export a record amount of gas this year, potentially exceeding 200 billion cubic meters and beating last year’s all-time high of 194 bcm.

The development comes despite repeated calls by the United States on Europe to diversify its gas imports away from the Kremlin’s pipeline monopoly Gazprom, which Washington says is using energy as a tool of intimidation.

Gazprom controls 35 percent of the gas market in Europe, larger than any other supplier, and aims to increase its share to 40 percent due to declining European production and the lower cost of extracting gas in Russia.

“We have been hearing about the reduction in Russian supplies for many years now,” Russian energy minister Alexander Novak told the conference. “But in spite of this, Europe keeps increasing Russian gas imports.”

Novak said Russia could double gas exports by 2030 to meet soaring global demand.

Source: Reuters