LNG

Russia's state-owned Rosneft is edging closer to taking control in the $4 billion Pechora LNG project in the Arctic Circle, which is currently owned by the Moscow-based investment firm Alltech Group.

Russia's gas export monopoly Gazprom has urged the Kremlin to block changes to the gas export law that would allow Rosneft to export gas from the Pechora LNG project in northern Russia, claiming the bill "will strengthen the bargaining position of potential foreign buyers of Russian gas."