LUKOIL intends to abolish the restrictions on the LNG export.

LUKOIL proposes to remove the restrictions on the export of liquefied natural gas (LNG) and has even prepared the amendments. The company believes that the liberalization of exports will reduce the geopolitical pressure on Russia. But the State Duma thinks differently and is not going to help Lukoil.

LUKOIL has prepared a draft law on amendments to the Law "On Gas Export" (RBK has a copy). The company led by Vagit Alekperov offers to completely exclude the restrictions on LNG exports from the current law.

LUKOIL motivates the need to liberalize the LNG export by the geopolitical and geo-economic instability, including the possibility of the increased economic pressure on Russia for political purposes, the explanatory memorandum to the bill states. Among the additional reasons given there were the obstacles from the European Union for the construction of the "South Stream" gas pipeline and the possible shift of the natural gas market structure of in Europe in favour of the liquefied gas.