Rosneft Challenges Gazprom Monopoly to Export Russian Pipeline Gas
MOSCOW, March 7 (Reuters) – Russia's top crude oil producer Rosneft wants to break the monopoly of another state-owned energy champion, Gazprom, to export gas via pipelines, sources said on Friday, signalling a flare-up between powerful clans.
Igor Sechin, a long-standing ally of Russian President Vladimir Putin, transformed Rosneft into the world's top publicly traded oil producer through the $50 billion purchase of Anglo-Russian firm TNK-BP last year.
In a sign of Sechin's rising clout, Rosneft and Russia's largest non-state gas producer Novatek have already secured rights to export seaborne liquefied natural gas, reversing a 2006 law that gave Gazprom a monopoly on gas exports.
Gazprom still holds the exclusive rights to ship Russian gas abroad via pipelines, which connect vast Siberian gas fields with European clients. It meets 30 percent of gas demand in the European Union.
Rosneft in particular wants access to Gazprom's Sila Sibiri (Power of Siberia) pipeline designed to carry gas to China at a rate of 38 billion cubic metres a year, sources familiar with the matter said.
Gazprom has yet to sign a final deal with China on the pipeline and has delayed its launch to 2020 from 2018 expected earlier.
"It is unfair that the pipeline is designated only for one company," a source at Rosneft said.
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- US House Opposes Russian Gas Pipeline (Dec 11)
- Gazprom's Second Quarter Profit Soars On Rising Energy Prices, Sales (Aug 29)
- Russian Gas Exports Hit a New Summertime Record (Jul 17)
Company: Rosneft more info
- Ifax: ExxonMobil Sees Russian LNG Plant's Capacity At 6.2MM T/Year (Jun 07)
- Russia State Oil Firm Starts Drilling At New Well Offshore Vietnam (May 15)
- Rosneft Appeals to Market With $2 Billion Buyback, Debt Cut (May 01)