Gazprom Losing Its Gas Export Monopoly: The Kremlin looks to Novatek and Rosneft to increase LNG exports

摘要

In June 2013, Russian President Vladimir Putin told the St. Petersburg International Economic Forum that his government is looking to partially reform its gas export policy. This partial liberalization has as much to do with politically benefiting well-connected Novatek and Rosneft, which have LNG export ambitions, as it does to help expand Russia's share in the growing global liquefied natural gas (LNG) market as its traditional gas market in Europe comes under threat. However, it also means that Gazprom, which currently enjoys a monopoly on gas exports from Russia, is about to lose this privilege and the large profit margins associated with it.