The bill grants the exclusive right for gas export to an entity that owns...
Russia?s lower house of parliament, the State Duma, passed the Bill on Gas Export in the second and the third reading yesterday, Kommersant reported.
Timing this move to the eve of G8 summit in St. Petersburg could be viewed as a response to the E.U. calls for gas market liberalization. Once the bill is approved by the Federation Council, it will become a solid lever for President Vladimir Putin in his talks with the G7 leaders. Using it requires just signing a bill into law.
The bill grants the exclusive right for gas export to an entity that owns the Unified Gas Supply System (UGS) or to its 100-percent subsidiary. Gazprom is the sole owner of the UGS today and its 100-percent subsidiary, Gazexport, is the sole export arm of the monopoly.
Creating a unified export channel represented by Gazexport actually legalizes the monopolistic standing of the latter and ends all hopes of intermediaries, including ITERA Group, to have another try on the market.
But the bill affords enough ground for liberalizing domestic gas market of Russia, including free access for any foreign investments or companies to it. But no foreign producer of Russia?s gas will ever be able to independently export it by passing Gazprom or any other owner of UGS.
