Russian natural gas producer Novatek’s latest liquefied natural gas (LNG) project, Murmansk LNG, received priority approval from the Kremlin yesterday. President Putin instructed lawmakers to include the project in the planned liberalization of LNG exports.
The initiative to liberalize the industry originated with Novatek’s Chair Leonid Mikhelson earlier this summer. The opening of the sector will remove mentions of specific license areas, broadening Novatek’s ability to export LNG.
“The Ministry of Energy and the government support the amendments to the bill. We believe that Murmansk LNG is a strategic project. It was considered at a meeting with the president twice. We have an instruction to add it to the strategy – this will be a strategic project. There is an instruction from the president to speed up the consideration of the federal law, which gives the right to export LNG,” explained Energy Minister Nikolai Shulginov following the meeting.
The law is now expected to enter into effect in November clearing the way for Novatek’s Murmansk project. Läs artikel