The monopoly of Russia's state-owned energy giant Gazprom on gas export was broken on Monday after President Vladimir Putin signed a bill into law that allows other Russian producers also to export liquefied natural gas (LNG), said a document published on the government website.
While Gazprom will keep its export monopoly on gas carried through pipelines, the new law will allow other Russian producers to export LNG increasingly in accordance with demand in the international market.
Domestic gas producers have been posing a growing threat to Gazprom's traditional dominance in recent years as they expand their operations inside Russia and push ahead with LNG export plans.
The legislation was passed by the Upper House of Parliament last week and had now been signed by Putin, according to the document. Primary beneficiaries are expected to be independent gas producer Novatek and state-owned oil major Rosneft, both of which have plans to develop LNG facilities that are likely to be oriented toward serving the growing Asian energy market.
Controlled by billionaires Gennady Timchenko and Leonid Mikhelson, Novatek is partnered with China's CNPC and France's Total in a $20-billion LNG project in the Arctic Yamal peninsula. Rosneft has plans to build an LNG terminal in Russia's Far East, the RIA Novosti news agency reported.
The only working LNG plant in Russia is located on Sakhalin, an island off the eastern coast, and is owned by a Gazprom-led consortium that also includes Anglo-Dutch major Shell.
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Political News
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.