Russia revises energy sector development strategy

Russia will revise energy sector development strategy until 2030 in line with the increase in shale gas extraction in the United States, Asia and the Pacific, Russian Energy Minister Alexander Novak said. The Russian minister explained Friday in a statement that Russian companies had initially planned to export gas to the United States, which extracts gas now itself, prompting Russian companies to target the European market that is getting increased gas supplies from the Middle East. Russia’s gas extraction for 2012 is projected at 676 billion cubic meters according to estimates by the ministry of energy.