Oil ministry says LNG could be exempt from Gazprom export monopoly

An exception to Gazprom's monopoly on Russia's gas exports could in theory be made for exports of seaborne liquefied natural gas (LNG), Russia's energy minister said on Tuesday, Reuters informs.

"In theory there are possible options specifically for LNG," Alexander Novak told reporters. "What form to use and what system of agreements to come to with Gazprom Export and others would need to be developed specifically."

Gazprom's monopoly is protected by law. But Russia's top non-state gas producer, Novatek, appears to be in the lead in the development of new LNG facilities with its Yamal LNG project, which has France's Total as a 20 percent shareholder.