Sechin, Maven of Competition
We’re all quite familiar with Igor Sechin, chairman of Rosneft, Deputy Prime Minister, and silovik extraordinaire, but few would describe him as a maven of open competition in Russia’s energy sector. Yet that is exactly what he appears to be doing, as Kommersant reported this past weekend that he has soared in above the law “ordered” the Federal Anti-Monopoly Service and Gazprom to allow indiscriminate third-party access to their monopoly on pipeline exports – namely, access for his own company. To call such a move “a conflict of interest” or “abuse of office” wouldn’t really come close to capturing the incestuous nature of Russia’s political environment and energy sector, as Sechin could personally stand to see his bank account swell with billions should Rosneft begin exporting natural gas to Europe. But what will happen to the Kremlin’s political monopoly on the pipelines? Affording them the ability to cut the taps to Western-leaning governments in the near abroad, and freeze out foreign investment projects they wish acquire?