Russia Passed LNG Export Liberalization Law

Russia has liberalized LNG exports. President Vladimir Putin signed into law the changes to rules on gas exports and foreign trade, paving the way for higher competition. The measure put an end to Gazprom’s monopoly, allowing Novatek and Rosneft to export liquefied natural gas. 

The law, which took effect from December 1, was passed by the Parliament on November 21.

The measure, intended to promote the development of LNG projects from Gazprom’s competitors, is strongly backed by President Vladimir Putin to avoid future competition from US, Australia and Africa. 

Putin also stated Russia’s interest to press ahead with a gas pipeline system to supply China. That would remain controlled by Gazprom.