liberalize exports of liquefied natural gas (LNG) at the
beginning of next year, bringing to an end the monopoly of gas
giant OAO Gazprom, the country's energy minister said in an
interview published Tuesday.
Alexander Novak told Kommersant that amendments to
the export law introducing liberalization should be passed to
the government in the coming weeks with measures in place from
January 1, 2014.
President Vladimir Putin said in June that Russia should
liberalize the LNG market, allowing companies other than
state-controlled Gazprom to sell gas abroad.
Deputy Prime Minister Arkady Dvorkovich said the opening up of
exports will allow Russia to enter the market "at the right
time." He also said that liberalization would speed up the
three major projects planned by Gazprom, OAO
Novatek and OAO Rosneft by increasing competition.
Russian companies have already signed large-scale deals with
Asian partners. In June, Novatek signed a deal to ship gas from
its planned Arctic liquefaction plant to China National
Petroleum Corp., which acquired a 20% stake in the project.
oil firm OAO Rosneft signed agreements to ship LNG to Japan, as
well as agreeing to supply China with 15 million metric tons/yr
of crude oil for 25 years, at just over $10 billion/yr.
Dow Jones Newswires