Russia will liberalize exports of liquefied natural gas at the beginning of next year, bringing to an end the monopoly of gas giant OAO Gazprom (GAZP.RS), the energy minister said in an interview with Kommersant daily published Tuesday.
Russia
will
liberalize exports of liquefied natural gas at the beginning of next year,
bringing to an end the monopoly of gas giant OAO Gazprom (GAZP.RS), the energy
minister said in an interview with Kommersant daily 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 last month 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 (NVTK.RS) and OAO Rosneft (ROSN.RS) by increasing competition.
Russian companies have already signed large-scale deals with Asian partners. In
June,
Novatek
,
Russia
's No.
2 gas producer, 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. And State oil firm OAO Rosneft signed agreements to ship LNG to
Japan
, as
well as agreeing to supply
China
with
15 million metric tons of crude oil annually for 25 years for just over $10
billion per year.
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