Chinese business of Rosneft and Gennady Timchenko

Partial abolishment of Gazprom’s monopoly to export natural gas from eastern fields, which was asked by Rosneft’s president Igor Sechin on Wednesday, could bring at least $1.1 billion of additional revenue to the state-owned oil company. Petromir of Gennady Timchenko, which owns licenses for two large gas field in the Irkutsk region, is also among the potential beneficiaries.

During the meeting of the FEC Presidential Commission on Wednesday, the Rosneft’s president Igor Sechin asked to permit independent gas producers to export from the new eastern projects. Partial abolishment of the Gazprom’s monopoly on export of pipeline gas suggests two variants, one of the FEC Presidential Commission’s members reported to journalists.

The first variant is the purchase of independent producers’ gas, extracted in the east of the country, at the price equally profitable with the export one, excluding taxes and transportation costs, by Gazprom. The second variant is the creation of a consortium on the construction of the gas pipeline infrastructure by the independent producers to increase the supplies to China with the probability of the failure of Gazprom's monopoly on pipeline gas exports in this direction., the agency’s interlocutor continues.

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