HP Boxscore Construction Analysis: Russian gas: The end of a monopoly and the beginning of a new era
December 2013 saw the repeal of a 2006 law establishing Gazprom as the sole exporter of Russian gas. The amendment is part of Russia’s plan to double LNG exports by 2020 and grab crucial LNG market share in the Asia-Pacific region. However, Russia is not without stiff competition.
December 1, 2013 marked the beginning of a new era for Russian gas exports, as it saw the repeal of a 2006 law establishing Gazprom as the sole exporter of Russian gas. Amendments to the gas export law and foreign trade law allow other companiesprimarily Novatek and Russian state-owned Rosneftthe ability to sell liquefied natural gas (LNG) for export. Gazproms monopoly on gas exports to Europe via pipeline was not touched.
The amendments are part of Russias plan to double LNG exports by 2020 and grab crucial LNG market share in the Asia-Pacific region. Russias overall goal is to produce at least 40 million tons per year (MMtpy) of LNG by 2020. This volume would
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Construction Boxscore: Project Spotlight
Jazan, Saudi Arabia