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Putin Calls to Phase Out Gazprom Monopoly on LNG Export

Russia’s President Vladimir Putin called for a “gradual” end to OAO Gazprom’s monopoly on exports of liquefied natural gas as OAO Novatek and the state-owned OAO Rosneft seek the right to ship the fuel abroad.

“It’s necessary to think about gradual liberalization,” Putin told an energy commission meeting with industry leaders today outside Moscow. Russia risks losing LNG markets to its international competitors unless the country acts, he said.