ExxonMobil not leaving Far-Eastern LNG project

ExxonMobil not leaving Far-Eastern LNG project

US energy giant ExxonMobil will not withdraw from the Far-Eastern LNG plant project, even though recent reports in the media suggested otherwise.

The vice president of Russia’s Rosneft, Vlada Rusakova said that she received no information about the alleged withdrawal of ExxonMobil, adding that she has several meeting scheduled with the US company’s management, reports RIA Novosti.

Rusakova also noted that building the Far-Eastern LNG plant within the Sakhalin-1 project is the best option, adding that the Sakhalin region administration supports the integration of the estimated $8 billion project.

ExxonMobil operates the Sakhalin-1 project, located on the northeast shelf of the Sakhalin Island, with a 30% stake, while other stakeholders are Rosneft (20%), Sodeco (30%) and ONGC of India with a 20% stake.

 

LNG World News Staff, September 23, 2014; Image: Rosneft

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