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Rosneft plans to decide on Dalnevostochny LNG plant in 2017-2018

September 28, 2016, 15:27 UTC+3 YUZHNO-SAKHALINSK

The project cost is estimated at $8 bln

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YUZHNO-SAKHALINSK, September 28. /TASS/. Rosneft continues to consider implementation of the Dalnevostochny LNG project, the investment decision might be made in 2017-2018 and after 2023, according to the presentation of Alexander Zharov, Director, Department of Licensing and Subsoil Use Control at Rosneft.

"The company aims to consider this as one of the major development projects," he said.

According to Zharov, this year the economic model of the project will be reviewed, which might become a basis for survey and design work in 2017-2018. The sites will be constructed in 2019-2023.

As TASS previously reported, Rosneft and ExxonMobil were going to develop Dalnevostochny LNG project using Sakhalin-1 gas. Rosneft started the projects in 2013.

Dalnevostochny LNG is the second LNG plant in Sakhalin. The projects resource base will include Sakhalin-1 resources and Severnoe Chaivo and Severnoe Veninskoye fields - totaling 584.4 bln cubic meters. The project cost is estimated at $8 bln.

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