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Re: SC18

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June 18, 2006 10:32PM
http://www.rigzone.com/news/article.asp?a_id=33214

Gazprom Export Monopoly Approved by Russian Lawmakers

Russian lawmakers gave preliminary approval to a bill formalizing the monopoly of state-controlled gas giant Gazprom on the country's gas exports in a rebuff to European demands for Russia to open up its gas market.

"The excluive right to export of gas is given to the organization that owns the gas supply system or its subsidiary," said the text of the bill, referring to state-controlled gas giant Gazprom and Gazexport -- a subsidiary fully owned by Gazprom.

The bill was approved on first reading by 386 deputies of the 450-seat parliament in favor. Six lawmakers voted against and eight abstained. A second reading has been scheduled for June 28.

Lawmakers from the pro-Kremlin United Russia, who put forward the law, want the text approved ahead of the G8 Summit in Saint Petersburg next month to bolster Russia's position in talks expected to focus on energy security.

"It's clear there is growing pressure on Russia from Western countries that want access to our resources and gas pipelines in order to force down world market prices for gas," said Valery Yazev from United Russia, one of authors of the law.

The text said the bill would help "defend the Russian Federation's economic interests, fulfil international obligations on gas exports, guarantee federal budget intakes and support the Russian Federation's energy balance."

Gazprom's deputy CEO Alexander Medvedev earlier gave his backing to the law, saying: "We support the draft law of course since it confirms the real state of things in the gas sector and the existing rules of the game.".........

Russia is huge in gas reserves. The countries with the remaining big energy supplies, like oil and gas, are recognizing more and more, that they can now choose thier own course, because the countries that need thier fuel, are addicted to this energy, can't do without it, and have foolishly left themselves no other viable, timely, options to remedly thier needs. Increasingly countries wealthy in energy supplies, will choose to defend thier own economic interest, in response to any pressures coming from Western Countries. The tighter supplies become, the more this will become a factor.
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Wizard 993June 18, 2006 06:59PM

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