Russia's economics minister said Tuesday that independent natural gas producers should be granted access to foreign markets

Monday, February 24, 2020

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Russia's economics minister said Tuesday that independent natural gas producers should be granted access to foreign markets. State-controlled Gazprom retains a monopoly on the export of Russian gas. "On the one hand, a concept of a single export channel of Russian gas, given the strategic importance of this resource for Russia, will allow the scheme and schedule of gas supplies to be coordinated, avoid competition from Russian producers abroad, and accordingly, ensure the commercial interests of Russian suppliers and the fiscal interests of the state," German Gref said. "On the other hand, we are in favor of opening access to export markets for all Russian gas market participants. Monopoly over Russian gas exports is not beneficial given the lack of a development mechanism for the export infrastructure, and the necessity of boosting investments in the gas sphere," the minister said. He said a number of strategic products, including weapons, military hardware, and some types of equipment and technologies, already had single export channels. The economics minister said the new law on natural gas exports adopted in July made gas a product of strategic importance that "should be exported via a single channel to ensure reliable gas supplies, the implementation of Russia's international obligations, and observance of the country's security interests."

Bookmark Russia's economics minister said Tuesday that independent natural gas producers should be granted access to foreign markets