State Duma committee approves draft law on LNG transshipment costs in foreign currency
The State Duma Committee on Transport has endorsed the approval of a draft law on setting the prices for the port loading, unloading and storage of liquefied natural gas (LNG) produced in the Russian Arctic zone.
“Adoption of the bill will remove the risk of failure by private investors to honor their obligations regarding the construction/reconstruction of LNG transshipment facilities as part of seaport infrastructure and will promote the development of LNG production in Russia’s Arctic zone,” the committee’s conclusions read.
The government submitted the bill in November 2021. The explanatory note said adoption of the bill would mitigate the implementation risks of LNG projects due to volatility on the foreign currency market.
The State Duma plans to hold the first reading of the draft law at the January 25 plenary session.