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Reuters: Exxon to push ahead on $15B LNG project with Rosneft

Published 05/03/2018, 12:26 PM
© Reuters.  Reuters: Exxon to push ahead on $15B LNG project with Rosneft
XOM
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  • Exxon Mobil (XOM -1.2%) will move forward with efforts to develop its $15B Far East Liquefied Natural Gas project with Russia’s Rosneft (OTCPK:RNFTF) despite being forced to exit some joint ventures because of sanctions, Reuters reports.
  • The project is being jointly developed with Rosneft using gas from the Sakhalin-1 venture which will be chilled into liquid to underpin the LNG plant’s 6M metric tons/year initial production target.
  • XOM has invited companies including China National Petroleum’s (PTR -1.8%) engineering arm to bid for construction contracts, and a final investment decision is due in 2019, according to the report.
  • Now read: First Eagle Global Value Team Quarterly Commentary Q1 2018


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