New Russian law singles out Gazprom, Rosneft for continental shelf
A new Russian law effectively gives exclusive rights to develop the country's continental shelf to government-controlled Gazprom and Rosneft.
Russian President Dmitry Medvedev has signed a federal law giving the federal government an opportunity to choose developers of the country's continental shelf without auctions or tenders, the presidential press service said Friday, ITAR-TASS reported.
Only Russian companies that are controlled by the Russian government are eligible to develop the country's continental shelf, said Deputy Prime Minister Igor Sechin at a meeting with Medvedev Friday. These companies must also have at least five years of experience working on the continental shelf, he added.
It was not immediately clear whether any Russian companies other than natural gas monopoly Gazprom and oil major Rosneft meet the eligibility criteria.
No tenders or auctions will be held for licenses to develop the deposits on the continental shelf, Medvedev said Friday at the meeting.
Licenses for some gas deposits "of federal import" considered crucial for the uninterrupted supply of gas to Russian regions will be also offered at the government's discretion, without tenders or auctions, Sechin said.
"The continental shelf is our national wealth," Medvedev said. The aim of the law is to ensure that the national wealth is used rationally, he said.