Russia is taking baby steps towards gas market liberalisation. The country launched a price liberalisation pilot project in two autonomous regions earlier this year, with a view to pushing ahead with full market opening in the 2020s. Nonetheless, experts argue the country’s daedalian liberalisation efforts do not go far enough because they could have an adverse effect on Gazprom – one of Russia’s most prized assets, which contributes nearly 8% to Russian gross domestic product (GDP) annually. With a number of costly international pipeline projects under development, such as Nord Stream II, TurkStream and The Power of Siberia, it is of paramount importance for Russia to have a Gazprom with strong balance sheet. Gas Matters explores the progress made with gas market liberalisation, its impact on exports and Gazprom.
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