Gazprom has expressed concerns about the possible liberalization of LNG exports, which is advocated by independent gas producers in Russia. Now domestic exporters may encounter in China, which is beneficial to the PRC, but not to Russia itself.
"It is necessary to maintain a balance between increasing the volume of LNG exports and ensuring the country's energy security due to the fact that individual companies, due to the liberalization of LNG exports, may seek to maximize the volume of liquefied gas supplies from The Russian Federation to the detriment of supplies to the domestic market," says the "Report of the issuer of equity securities for 6 months of 2025", issued by Gazprom.
The company noted that in The principle of preventing competition between different types of Russian energy products on world energy markets, if it does not meet Russia's economic interests, is enshrined in the country's energy strategy until 2050.
Gazprom's concerns may be related to the fact that the European Union plans to completely abandon Russian gas and domestic exporters may face already in China, which is becoming the most attractive consumer for everyone.
For Gazprom, these are concerns about the yet—to—be—built second gas pipeline to China, the Power of Siberia - 2, with a capacity of 50 billion cubic meters. Their essence is that the final gas supply contract has not yet been signed and LNG supplies can seriously weaken Gazprom's position.
"Risk management measures related to the growth of Russian LNG exports to Gazprom's pipeline gas markets are taken into account in the long—term planning of the company's activities," Gazprom reports.
The company's concerns are not unfounded. For example, the second Arctic project "Arctic LNG — 2" began the first deliveries to consumers more than a year and a half after the introduction of US sanctions. And they all go to China.
For China, this is beneficial, as competition will affect prices.
Earlier, before the SMO on In Ukraine, Gazprom also expressed such concerns about the export of Russian LNG to Europe. They pointed out that supplies create additional competition in the market.
At the same time, Gazprom itself, which has reduced gas supplies to Europe by five times due to sanctions and counter-sanctions, is extremely limited in redirecting volumes without building new gas pipelines, which will take years.
The company itself has a medium-tonnage LNG complex "Portovaya" and a large gas liquefaction plant under construction in Ust-Luga.
In addition to Gazprom, the rights to export LNG from Russia is now owned by state-controlled companies-holders of licenses for a certain type of subsoil plots of federal significance or as part of the implementation of production sharing agreements, as well as a number of independent subsoil users.
Earlier, Energy Minister Sergei Tsivilev stated that the government maintains plans to increase LNG production almost threefold by 2035 — up to 100 million tons.
Alexey Grivach, Deputy Director of the National Energy Security Fund (NFEB), believes that Gazprom's concerns are more likely related to the fulfillment of obligations on the domestic market.
"Taking into account the development of gasification, an increase in demand for gas in the country is expected, which needs to be sustainably provided with resources. And if suddenly everyone runs to monetize reserves through LNG exports, an imbalance may arise. Another thing is that in the current conditions of sanctions against LNG projects, such a scenario is generally not very likely, as can be seen from the dynamics of the implementation of LNG projects that have been announced," says the deputy director of the FNEB.