The Russian Government has granted exclusive rights to four companies to export liquefied natural gas (LNG),
Russian Prime Minister Dimtry Medvedev signed a resolution on 14 July granting LNG export privileges to OJSC Gazprom, its subsidiary Gazprom Export, OJSC Rosneft, and OJSC Yamal LNG.
Export licenses will be issued by Russia's Ministry of Energy.
”You know that liquefied natural gas is a very promising area of energy production globally. All countries are working on this issue, and Russia is no exception in this sense," Medvedev said.
"Although Russia has huge reserves of natural gas and is one of the largest exporters of gas via pipelines, so called pipeline gas, it should not overlook other development opportunities in gas-fueled power generation, such as gas liquefaction and LNG export under contracts.”
Gas Export Law
Gazprom lost its monopoly on LNG exports when Russia amended its 2006 Gas Export Law in December 2013 and liberalized export restrictions.
in addition to Gazprom (and its subsidiaries), the right to export LNG was given to companies that:
The effect of the 2013 amendments is that the right to export LNG is extended to state-controlled Rosneft and Russia's largest independent gas producer, Novatek, which holds an 60% equity stake in Yamal LNG.
“It’s the Government’s responsibility to approve a list of companies with the exclusive right to export LNG,” Medvedev said on Monday.
Image at right: PM Dmitry Medvedev meeting with deputy prime ministers (from government.ru)
Related news:
Gazprom appoints Burmistrova to head gas export, 16 July 2014
Yamal LNG progresses, 21 May 2014
Total taps Technip for Yamal LNG, 16 May 2014
Gazprom adds fifth LNG tanker, 21 January 2014
Russia needs to up investment, 19 November 2013
STX launches ice-class LNG carrier, 12 November 2013
Contractors chosen for Russian LNG project, 30 September 2013
Subscribe
