Russian Government Approves LNG Export Liberalization

October 31, 2013

The Russian government has approved a draft law cancelling gas giant Gazprom’s export monopoly by allowing other firms to export liquefied natural gas (LNG), Prime on October 30 cited Prime Minister Dmitry Medvedev as saying.

State-controlled oil company Rosneft and independent gas producer Novatek have said they want to export LNG.

The bill enables the companies in which the government owns more than 50% and which work on seas and the continental shelf, or companies that have a license for LNG plant construction to also export LNG, meaning that Rosneft and Novatek’s affiliate Yamal LNG complies with the condition.

To become law, the bill must now be approved by the State Duma, the parliament’s lower house, in three readings, by the Federation Council, the parliament’s upper house, in one reading, before being signed into law by the president.

Copyright: Prime, 2013