Russia to Liberalize LNG Export by January 1

Russia will liberalize its liquefied natural gas exports (LNG) in less than three months, Energy Minister Alexander Novak said on Wednesday during the World Energy Congress. 

“We expect the law to take effect since the first of January next year,” Novak said in occasion of the congress in South Korea.

The increased competition in international markets would be offset by a major agreement between Gazprom and China National Petroleum Corp (CNPC), which are expected to clinch a deal by the end of the year. 

President Vladimir Putin has already endorsed the proposal for the LNG export liberalization. He also stated Russia’s interest to press ahead with a gas pipeline system to supply China. That would remain controlled by Gazprom. 

The LNG exports liberalization is expected to be approved by the parliament in the coming weeks. 

“The work… has been coordinated and agreed by all the ministries of the cabinets, and in the near future it is going to be submitted to the State Duma, the parliament of the Russia Federation,” Novak explained.