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Russia expanding LNG exports from northern fields — law

The new law allows thirty six fields operated by Russian oil producer Rosneft the right to export

MOSCOW, November 2. /TASS/. Russian President Vladimir Putin has signed a law authorizing companies with a majority government stake to export liquefied natural gas (LNG) from fields located north of the 67th parallel.

The document was posted on the official web portal of legal information. The new law allows thirty six fields operated by Russian oil producer Rosneft the right to export, Deputy Energy Minister Anastasia Bondarenko noted earlier.

Northern fields are located at a significant distance from the united gas supply system and monetizing their gas is viable only through LNG production, accompanying documents to the law indicate. The new rules are expected to enable the monetization of huge gas reserves remote from Gazprom's integrated system and create conditions to scale up LNG production and exports.

The approved law also stipulates bringing LNG bunkering operations out of the gas export law. This will make it possible to stimulate LNG use as a more eco-friendly bunker fuel alternative to maritime and riverine shipping.

The law comes into force in ten days after its promulgation.