IEA presses for Russian natural gas sector reform

Massive volumes of natural gas wasted annually in Russia’s gas sector and the lack of investments in developing new fields to offset depletion of key producing fields “will begin to affect Russia’s position as a secure and reliable supplier” unless structural and regulatory reforms are introduced swiftly, cautions an International Energy Agency study released at the close of the G8 Summit in St. Petersburg.The study faults OAO Gazprom’s 90% gas sector monopoly, which limits upstream gas investments and third party access to its gas lines by independent gas producers and oil companies.President of this year’s G8-the world’s eight most-developed cou...

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