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Russian Parliament Approves Gazprom’s Monopoly

Law360 (July 5, 2006, 12:00 AM EDT) -- In what amounts to a spurning of the European Union, Russia approved a bill Wednesday that upheld state-run Gazprom’s monopoly on natural gas exports.

The measure passed 355-64 in the lower house of Russia’s parliament. It now needs approval from both the upper house of parliament and President Vladimir Putin, but both of those are expected to occur.

The law would provide only one exception to Gazprom’s monopoly: It would allow gas exports from companies, including ExxonMobil and Royal Dutch Shell, that hold production sharing agreements...
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