Russia's Putin approves LNG exports for Gazprom's rivals
* Law takes effect from Dec. 1, 2013
* Novatek, Rosneft to benefit from amendments
MOSCOW Dec 2 (Reuters) - Russian President Vladimir Putin has signed into law amendments that will allow rivals of state-owned Gazprom to export liquefied natural gas (LNG), bolstering hopes for Russia to boost its share of the global LNG market.
The changes to rules on gas exports and foreign trade, published by the state's law information site on Monday, will enable Russia's No.2 gas producer Novatek and top oil firm Rosneft to launch LNG projects.
The measure took effect from Dec. 1 2013, the document said.
Putin has urged Russian companies to develop production of seaborne LNG and increase their global reach to diversify gas supplies away from Europe, which has been trying to reduce its dependence on Russian energy.
Gazprom's monopoly on pipeline gas exports, which are currently pumped only to Europe, stays untouched.
Russia wants to double its share in the global LNG market by 2020 from 4.5 percent. Gazprom and Royal Dutch Shell own Russia's only LNG plant, on the Pacific island of Sakhalin, which produces 10 million tonnes of the super-cooled gas a year. (Reporting by Vladimir Soldatkin; Editing by Douglas Busvine and Elizabeth Piper)
- Tweet this
- Share this
- Digg this
The disappearance of a Malaysian jetliner is an "unprecedented aviation mystery", a senior official said on Monday, with a massive air and sea search now in its third day failing to find any confirmed trace of the plane or 239 people aboard. Full Article