Russia's independent gas producer Novatek confirmed it received a license from the federal government to export liquefied natural gas.

Novatek production meets about 18 percent of the country's needs. The company controls 60 percent of the Yamal LNG project in the arctic north of Russia, alongside French energy company Total and the China National Petroleum Corp.

Russian Deputy Energy Minister Kirill Molodstov confirmed Saturday to Russian news agency ITAR-Tass the export nod was given to the independent gas producer.

Russian President Vladimir Putin last year started liberalizing a natural gas company dominated by state-controlled Gazprom.

The Yamal LNG project has the capacity to produce about 16.5 million tons of natural gas and exports could target consumers in the Far East. As many as 16 ice-class carriers will be designated to ship LNG year-round to global consumers.

Russian President Vladimir Putin said last weekend developing large-scale programs on the arctic shelf was a critical component of economic development.