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Russian energy minister calls to liberalize export of natural gas

Russia has set a task to encourage the construction of liquefied natural gas plants

Alexander Novak, Photo ITAR-TASS

Alexander Novak, Photo ITAR-TASS

ST. PETERSBURG, June 20 (Itar-Tass) - Russian Minister of Energy Alexander Novak thinks it expedient to liberalize export of liquefied natural gas.

“We have come out with an initiative to liberalize export of liquefied natural gas. So far, this initiative has not been accepted,” Novak said on Thursday at the St. Petersburg International Economic Forum. “But I think that in case certain agreements are reached and contracts with potential buyer are signed, it would be expedient.”

Presently, Russia has set a task to encourage the construction of liquefied natural gas plants. But so far, there is only one such plant.

The minister noted that in trade in liquefied natural gas has been showing upwards tendencies in the past ten years out of the entire 50-year history of liquefied natural gas production. “Over this period, average growth dynamics in the trade in liquefied natural gas reached 7.6 percent a year while growth dynamics in the trade in pipeline gas was 2.6 percent,” he said. Russia sees serious changes on this market, the minister added.

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