Russia Moves Closer to LNG Export Liberalization

Russia's government has given a final green light to the law liberalizing liquefied natural gas (LNG) exports. Officials expect the bill to be discussed by the lower and upper chambers by the end of the year.

"Let's hope that this (law) will create additional scope for the whole energy industry and allow us to secure a footing in fast-growing economies," Prime Minister Dmitry Medvedev said referring to Asian markets. 

Russia's President Vladimir Putin has expressed his firm intention to spur LNG exports, granting more leeway to Novatek and Rosneft. On Tuesday, the two companies announced expansions of LNG projects.

GAZPROM

Gazprom's Board of Directors recently revised the long-term development strategy. According to a note released by the company on Tuesday, the major focus for the future is to make the most out of its competitive advantages.

‘The company can boast a portfolio of long-term gas supply contracts, a long-standing record of cooperation with foreign partners and a reputation of a reliable supplier,’ reads the press release of the main Russian producer and exporter of hydrocarbons.

 At the same time, Gazprom is intentioned to increase its share in the global LNG market through the construction of brand new LNG plants.

‘In particular, the Vladivostok-LNG project targeted at the Asia-Pacific market has entered the investment stage,’ reads the note by Gazprom.