The Russian Duma is set to back a bill allowing for the export of liquified natural gas from areas of the Arctic region.
Russia’s lower house of parliament, the State Duma, is gearing up to pass a pivotal bill in October that would officially authorize the export of liquefied natural gas (LNG) from subsoil areas within the Arctic region situated north of the 67th parallel north, State Duma Energy Committee chairman Pavel Zavalny said Wednesday during a session of the Far Eastern Energy Forum.
The forthcoming legislation, which seeks to amend Articles 2 and 3 of the federal law On Gas Exports, will bestow exclusive export rights for LNG from onshore subsoil regions, either wholly or partially located north of the 67th parallel north.
Zavalny affirmed that this government-backed bill is currently in preparation for its second reading and is on track for approval in the third reading slated for October.
This legislative initiative follows a significant development earlier this year when, in May, the State Duma passed the initial reading of a bill that laid the groundwork for LNG exports to users of onshore subsoil areas located north of the 67th parallel north.
The legislation specifically pertains to gas fields located within the Arctic regions of the Krasnoyarsk Territory, the Nenets Autonomous Area, and the Yamalo-Nenets Autonomous Area. Notably, the bill mandates that the state holds a stake of over 50% in the authorized capital of such subsoil consumers.
The scope of this initiative extends to 36 fields owned by the Russian oil giant Rosneft, as confirmed by Russian Deputy Minister Anastasia Bondarenko during a State Duma Energy Committee meeting in April.
Russian energy giant Gazprom confirmed earlier in September that it had made the first delivery of LNG to China via the Arctic Northern Sea Route.
Russian authorities hope the route will help increase oil and gas deliveries to Asia when Moscow’s traditional European clients are ramping down their energy dependence on Russia following the war in Ukraine.
Source: Almayadeen