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  Tuesday, January 26, 2021
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The Russian government has effectively abolished duties on liquefied natural gas exports
The Russian government has effectively abolished duties on liquefied natural gas exports, the Russian government's press service said Tuesday. Prime Minister Mikhail Fradkov has signed the relevant regulation to scrap duties on all LNG exported beyond Russia's immediate neighbors, which will come into effect a month after it is published, the press service said. Russian energy giant Gazprom came up with a proposal last year to abolish the export duty, which was 40 euros ($48.50) per 1,000 cubic meters. Economic Development and Trade Minister German Gref has said that scrapping the duty would encourage foreign partners to invest in Russia's LNG industry. Gazprom has signed a succession of memorandums of understanding with European energy firms as it seeks to develop the Bering Sea's giant Shtokman gas field, where recoverable reserves are estimated at some 3.2 trillion cu m. Gas would be shipped as LNG to markets in the United States and Europe. Production is due to start in 2010. Russian Natural Resources Minister Yury Trutnev said last month that Norwegian experience and expertise could be valuable to the project. Gazprom has cooperation agreements with Norsk Hydro and Statoil, Norway's leading energy companies.
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