The liberalization of Russia's gas markets will be possible only after 2018, a source in the Russian Economic Development Ministry said Tuesday.
“Due to macro-economic conditions in world energy markets, permitting other Russian companies to export gas can only be possible after 2018,” Russian news agency RIA Novosti reported, citing an unnamed official from the Russian Economic Development Ministry.
These macro-economic conditions are mainly low oil prices and the global increase of liquefied natural gas (LNG) supplies, the source explained, adding that the LNG terminal in Russia’s Yamal Peninsula, which is planned to be operational after 2018, is also an important factor in evaluating the gas market's liberalization in the country.
According to Russian legislation, Gazprom is the only company in Russia that has permission to export gas.
However, the country’s leading energy companies Rosneft and Novatek, have made numerous requests to the Russian government to obtain permission to export gas via pipeline to Europe.
Russian Energy Minister Alexander Novak said last month that the view of the Russian government regarding Gazprom being the sole exporter of Russian gas has not changed.
By Emre Gurkan Abay in Moscow
Anadolu Agency
gurkan.abay@aa.com.tr