2004, The Year of LNG»

US Ambassador to Russia, Alexander Vershbow, stated that there is a chance to increase the level of US participation in the Russian gas sector in 2004, make the area of licensing more transparent and make amendments to the law on mineral resources. The ambassador said that collaboration in the energy sector is one of the most important aspects of bilateral business integration. Mr Vershbow believes that the gas trade could grow quite fast. He said that LNG projects have the best potential. 'The demand for LNG in coming years will rise considerably and Russia will become a leading supplier,' the ambassador said. In his opinion, American companies could provide Russian companies with a great deal of assistance in this area as the US 'has a market, technology and capital.'

The ambassador suggested that 2004 could become a ground-breaking year for US-Russian collaboration in the sphere of LNG.