Liberalization of Natural Gas Exports to Help Russia Restore Positions on the European and Global Markets

... jointly with TNK-BP and Itera [7] . At the same time, Gazprom has dramatically decreased its output from 513.2 bcm in 2011 to 487 bcm in 2012, as a result of a drop in foreign sales by four percent and in home sales by nine percent [8] . In 2012, Novatek and Rosneft took several significant steps to consolidate their position both within Russia as well as abroad. Two key Russian gas independents also pledged to increase their production up to 112 and 100 bcm respectively by 2020 [9] . Both Novatek and Rosneft strategies are based on the assertive merger and acquisition (M&A) policies ...