Energy Ministry to begin detailed work on LNG liberalization
ST. PETERSBURG. June 21 (Interfax) - The Russian Energy Ministry will soon begin detailed work on liberalizing liquefied natural gas (LNG) exports, Energy Minister Alexander Novak told reporters on the sidelines of the St Petersburg Economic Forum.
"This is the statement [by the president] that we have been waiting for. We're ready to start working on this issue in the shortest timeframe. I can say for certain that this will be the shelf and coastal territories," he said.
Russia plans to gradually liberalize the exporting of LNG, President Vladimir Putin said in an address to the St. Petersburg International Economic Forum.
"The opening window of opportunities of the Asian-Pacific market with the expected doubling of LNG consumption allows us to decide to gradually liberalize the exporting of liquefied natural gas," Putin said. "This creates conditions for making full use of the potential of extracting gas on the shelf," the president said.