End run around Gazprom

24 May 2013 By Kevin Allison

A gas project in Russia’s far north could crack the state giant’s export monopoly. The Kremlin is expected to decide soon whether to allow Yamal LNG’s backers to ship its production abroad. It may only approve sales to Asia. But even limited exports would hurt Gazprom.

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BP has been in discussions to buy liquefied natural gas from Russia’s Yamal LNG project, the latest sign of international interest in the planned facility in the country’s far north.
The project is expected to produce up to 15 million tonnes of liquefied natural gas per year from 2018. It is still awaiting formal approval from its backers, independent Russian gas producer Novatek and French oil major Total, but preliminary work has started.
Gazprom holds a monopoly on sales of Russian gas abroad, but Yamal’s backers are seeking permission from Russian authorities to export LNG from the project. A decision is expected soon.

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