Russian president Vladimir Putin has signed a new law which has opened the liquefied natural gas exporting market to Novatek and Rosneft. Until now, only Gazprom was granted to export LNG from Russia.
According to the new law, only companies in which the government holds at least 50% interest, or those who have plans to develop LNG projects in Russia, will be allowed to independently export LNG.
Russia currently has one LNG export terminal located on the Sakhalin Island.
LNG World News Staff, December 3, 2013; Image: kremlin.ru