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Russian minister against LNG supply to Europe

Last Updated: Sunday, March 17, 2013 - 14:20

Moscow: Russian Energy Minister Alexander Novak has said he is opposed to liquefied natural gas supplies to the European market, citing Asia-Pacific as a priority market for LNG exports.

"My position is that Russian LNG should not be supplied to the European market" to avoid competition with Gazprom's natural gas supplies, the minister said.

He said Russia's largest independent gas producer Novatek had recently discussed LNG supplies with Chinese, South Korean and Japanese partners.

Novak also said he supported proposals to allow independent gas producers to develop LNG exports.

Under existing legislation, energy giant Gazprom has a monopoly on gas exports and other producer companies are obliged to sign export contracts with Gazprom structures.

Russia's oil giant Rosneft and Novatek have previously appealed to the government to consider ending Gazprom's monopoly on LNG exports.


First Published: Sunday, March 17, 2013 - 14:20
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