Rosneft and Alltech intend to create joint venture on basis of Pechora before the end of September

The Government has opposed the granting of an export license to Pechora LNG, but Rosneft and Alltech of Dmitry Bosov are going to complete the creation of a joint venture on basis of this project before the end of September. Even if Pechora LNG doesn’t receive the right to export, it will be able to sell liquefied natural gas through Rosneft’s structures, sources of the RBC assure.

Previously, Rosneft stated that the establishment and registration of the joint venture on the basis of Pechora LNG was scheduled to be completed not later than on September 1st, 2014 and the company would get a majority stake in the project. But the creation of the joint venture was delayed. And yesterday it became known that the Government had prepared a negative review on a draft law, which would allow Pechora to get the right to export LNG. The document was signed by the Ministry of Economic Development, the Ministry of Energy and Ministry of Finance. The fact that the document is now in the office of the Deputy Prime Minister, Arkady Dvorkovich, was reported to the RBC by his representative, Aliya Samigullina. Earlier, in late June, deputy chairman of Gazprom, Valery Golubev wrote a letter to the Ministry of Energy, asked not to give Pechora LNG the right to export, the Bloomberg reported. Otherwise, the competition between Russian suppliers on foreign markets will be exacerbated, he explained.

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