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Report: Exxon sees Russian LNG plant capacity at 6.2M tons/year

Published 06/07/2018, 12:48 PM
© Reuters.  Report: Exxon sees Russian LNG plant capacity at 6.2M tons/year
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  • Exxon Mobil (NYSE:XOM) and Rosneft (OTCPK:RNFTF) expect their Sakhalin-1 joint venture project in Russia to produce more than 6.2M metric tons of liquefied natural gas per year, Interfax news agency reports, quoting an XOM manager.
  • XOM is pushing ahead with development of the $15B Far East Liquefied Natural Gas project with Rosneft despite being forced to exit some joint ventures in Russia due to Western sanctions.
  • The two companies also have held talks about feeding gas from Sakhalin-1 fields into a planned third production unit at an existing LNG plant run by Gazprom (OTCPK:OGZPY) and Shell (LON:RDSa) (RDS.A, RDS.B) on Sakhalin island.
  • Now read: Royalty LP Yields 7%, With Good Coverage, Major Growth, Goes Ex-Dividend Soon


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