Excerpt from Russian Petroleum Investor by Inna Gaiduk
| The Russian Gas Society (RGS) is developing measures to support enterprises in the gas sector during the global financial crisis. Among these are a modification in the formula of the price for gas in long-term export contracts reducing dependence on oil prices, development of a differentiated rate for the mineral extraction tax (NDPI), participation of Russia in international organizations of gas producers, and decisions on questions of non-payment for delivered gas and non-receipt of full requested gas volumes. |
Independent gas producer NOVATEK presented to the RGS session its suggestions on anti-recessionary measures. In particular, the company emphasized the need to modify the law on gas export to allow access for independent manufacturers. The company also suggested making changes in the general plan for the development of the gas sector through 2030 because of the delay in economic growth. In particular, NOVATEK suggested strengthening the role of independent manufacturers.
Gazprom told the session that it did not support such suggestions from independent producers. The gas giant said that modifying the law on gas export would result in Russian gas competing with Russian gas in the European market. In addition, the company noted it spends a part of export proceeds on social programs and maintaining reliability of gas deliveries to consumers. Independent manufacturers do not bear such charges.
Gazprom also considered modifications in the general structure of the gas sector to be inexpedient because that structure developed from long-term trends not short-term changes of market conditions.
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