State Duma to draft bills to support LNG investment projects
© RIA Novosti. Sergey Mamontov

State Duma to draft bills to support LNG investment projects

State Duma Speaker Vyacheslav Volodin called for a working group to be set up to develop the necessary legislative initiatives for the LNG industry. He stressed that Russian President Vladimir Putin had set the task of developing projects for the production of liquefied natural gas (LNG), but so far it had not been adequately carried out.

“As part of parliamentary oversight, we should stimulate the efficiency of work in order to implement the President's instructions. Therefore, let's agree that the working group will include the heads of relevant committees,” Volodin said during an offsite working meeting of the Duma Council in the Murmansk Region at the Centre for the Construction of Large-tonnage Offshore Facilities.

The working group should explore all the proposed initiatives within the next week, hold consultations with the government and come to take a decision.

“Here the role of the parliament is obvious. We must keep the support of these projects under control. These are issues of developing not only our economy, but also those industries that will allow us, by competing, to ensure the development of the country. This is where our advantage lies. Moreover, we have a unique technological base, which has no equal,” Volodin emphasized.

The working group on drafting bills will be headed by First Deputy Speaker of the State Duma Alexander Zhukov. In addition, it will include deputies from the regions. Also, according to Volodin, this topic should be taken in hand as part of the reports to the State Duma by the Energy Minister and the relevant Deputy Prime Minister. Novatek head Leonid Mikhelson said that the industry needed legislative measures to be taken.

“We need to do everything to ensure that there are more such companies and they master their markets. Then we can rank first among companies in other countries. This will benefit the country. We can do it together,” Volodin pointed out.

He also added that those countries that master the technology will win the competition.

“We should do everything to create conditions for our companies to have the best technologies,” Volodin stressed.

According to Volodin, there should be incentives for such enterprises.