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Rosneft & ExxonMobil to Build $15b LNG Plant in Russia

Source: www.gulfoilandgas.com 4/11/2013, Location: Asia

Rosneft and ExxonMobil have agreed to study the possibility of building a $15 billion plant to liquefy gas from their Sakhalin-1 oil and gas project.

Sakhalin-1 LNG Project could either be built on the Sakhalin island or in the far-eastern region of Khabarovsk. The project aims to supply Asia-Pacific markets that would challenge Gazprom's monopoly on Russian gas exports. Production could start in 2018.

Rosneft and ExxonMobil in February said they would study the feasibility of the plant, but now provide the first indication of the scale and timing of their plan. The firms will decide whether to go ahead by June.

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