Russia to Make LNG Exports to Asia Easier

In order to meet the expanding Asian LNG demand, Russia will move ahead with opening up its exports of the fuel, President Vladimir Putin said on Tuesday, reported news agency Reuters.

"We realise our responsibility in this sector, and therefore are planning to expand our energy cooperation with our Asian partners," Reuters quoted Putin as saying at the Asian-Pacific Economic Cooperation summit in the Indonesia.

Putin added that Russian will take steps to liberalise exports of LNG trade in the nearest future.

The President said the liberalisation plan will accommodate both Gazprom and Novatek, in a sign the Kremlin is seeking a compromise decision in the strategic energy sector, Reuters reported.

"We support the projects... run by Novatek, we will also support the projects of our main gas producing and exporting company - Gazprom," he said.