MOSCOW (Sputnik) – Russia’s energy giant Gazprom should remain a monopoly for gas exports, Russian Energy Minister Alexander Novak said Tuesday.
"We believe that it’s necessary to keep exports with a single purveyor of gas [with Gazprom] so that the state budget doesn’t suffer," Novak said.
According to Russian media, Gazprom has submitted its suggestions for Russian gas market development to the Energy Ministry. The company suggested liberalizing liquefied natural gas exports for strategically important projects.
The state-owned energy giant also suggested allowing it and independent gas producers to export gas to Europe in a test mode.
The Russian legislation currently only allows Gazprom and its subsidiary Gazprom Export to export pipeline gas.
Gazprom is the largest extractor of natural gas in the world, accounting for 12 percent of the global gas output, according to the company. The Russian government holds the majority stake in the company.
