Putin Signs Law To Liberalize LNG Export Market

December 2, 2013

On November 30, Russian President Vladimir Putin has signed into law legislation that will liberalize the export of liquified natural gas (LNG). This will result in Gazprom remaining a monopoly only on pipelines it owns abroad, Prime reports, citing the government news portal for information on pending and new legislation.

Under the law, Russia will give the right to export LNG to companies whose licences as of 1 January 2013 envisioned building LNG terminals as well as companies in which the state owns more than 50% developing fields on internal territorial waters, the continental shelf including the Black and Azov seas. 

When the law comes into effect, Novatek's Yamal-LNG project will become an independent LNG exporter along with Rosneft and Gazprom LNG terminals controlled by the government.

The new rules will obligate exporters to provide the Energy Ministry with data on gas exports as required by Russian legislation. 

Source: Samotlor Express , 2013г.