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Gazprom will retain Russian gas transport monopoly: Putin
AFP
SAINT PETERSBURG
Petroleumworld.com 06 14 06Russia tightened its hold on its energy sector Tuesday as President Vladimir Putin vowed that Gazprom would maintain its monopoly on gas transport and a new law restricted foreign access to the country's massive energy reserves.
The Russian gas giant Gazprom "will not give up its monopoly on gas transport", in particular transport to European clients, President Vladimir Putin told foreign investors.
"The level of development of our legal framework does not allow us now to give up Gazprom's monopoly on gas transport to our main customers," Putin told an international economic forum in Saint Petersburg.
"We do not foresee any change in this area in the near future."
European countries that are heavily dependent on Russian gas have pressed Moscow for several months to allow foreign access to Russian gas pipelines.
On June 7 however, Russian newspapers said that lawmakers had drafted a bill to formalise Gazprom's monopoly over the country's gas exports in a direct rebuff to European demands.
Meanwhile, Russia's natural resources minister said Tuesday that a new energy law would restrict by more than expected foreign access to the country's massive energy reserves.
For oil, companies majority-owned by foreign investors will not be able to bid for oil fields of over 70 million tonnes (77 million short tons), since these will be considered as strategic, Yuri Troutnev told the economic forum.
Previously foreign investors were expected to be able to bid for reserves of up to 150 million tonnes (165 million short tons).
For gas, fields of over 50 billion cubic metres (1,800 billion cubic feet) will be considered as strategic, down from the previously expected limit of 75 billion cubic metres (2,700 cubic feet).
The new law, which will also cover access to other raw materials like gold and copper, should clarify the rules governing foreign investment and has been the subject of tortuous negotiations.
Europe is increasingly nervous about over-dependence on Russian gas and oil, and is keen on more foreign investment in Russia's energy fields in order to secure future supplies.
In the early 1990s, Russia signed but did not ratify an Energy Charter which enshrined free-market relations and mutual market access.
Moscow continues to object to a mutual transit protocol attached to the charter, which calls for non-discriminatory access by foreign companies to Russian pipelines and which would also open access to key foreign producers such as Turkmenistan and Kazakhstan.
AFP 13 1908 GMT 06 06
Copyright ©2006 AFP. All Rights Reserved.
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