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Russia should learn WTO mechanisms for gas discussions

June 27, 2012, 20:41 UTC+3

The creation of a considerable liquefied gas sector was crucial to the gas industry’s development

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MOSCOW, June 27 (Itar-Tass) — Russian needs to master new WTO mechanisms to be able to discuss natural gas exports, said Valery Yazev, a member of the United Russia party, the first deputy head of the State Duma Committee for Natural Resources and Environment, and the head of the Russian Gas Society.

Yazev presented a report on the guidelines of the society’s work on Wednesday.

The deputy said that a new floor for thematic discussions was appearing in the wake of Russia’s accession to the WTO. “The Russian gas industry had to face lots of thorny issues when the WTO entry talks were under way” Yazev went on to say.

“If the WTO agreement is ratified, which is likely to occur on July 4, there’s great probability that Russia and the West would start applying WTO arguments and instruments when discussing gas deliveries. We should learn these mechanisms just as we did in case of the Energy Charter and the EU ‘third energy package’,” the Russian deputy emphasized.

Touching upon the overall situation in the gas market, Yazev said he didn’t expect any considerable growth in Russian gas exports in 2012. However, he believes the volumes and gas export proceeds are likely to remain unchanged.

“Russian gas exports outside the CIS grew by 9% in 2011 while export earnings increased by 31 % despite the complex situation in the European energy market aggravated by looming new recession and further decrease in energy consumption as well as the anti-Russian nature of the ‘third energy charter’ and stock dumping,” Yazev said.

At the same time, he said that the creation of a considerable liquefied gas sector was crucial to the gas industry’s development. Yazev said he was sure that liquefied fuel would gradually strengthen its foothold in global trade.


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