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Rosneft and ExxonMobil extend Far East LNG agreement

LNG Industry,

Far East LNG project

Rosneft President, Igor Sechin and President of Exxon Mobil Development, Neil Duffin signed an agreement to extend the existing Strategic Agreement on implementation of the Far East LNG project. Work to progress engineering surveys on land and sea is scheduled for summer of 2014.

At this time, conceptual design development has been completed, characteristics defined, and the potential sites for the LNG plant facilities agreed upon. The gas liquefaction technology, as part of the initial design stage, has also been completed.

Gas from Sakhalin

Preparations for the second design stage have been carried out. Initial design capacity of the plant is approximately 5 million tpa of liquefied natural gas, with a possibility for expansion. Natural gas from Rosneft reserves in the Far East and from Sakhalin-1 project reserves will be used as raw feed for LNG plant.

With completion of the conceptual designs, construction and commissioning of the LNG plant, loading line, and offshore facilities are targeted for 2018-2019.

Additional agreement

Igor Sechin and President of Exxon Mobil – Russia, Glenn Waller, signed an agreement of rendering of services by the Sakhalin-1 consortium. The agreement envisages services for the drill, production, preparation, transportation, storage and shipping of hydrocarbons, produced at the north-end of the Chayvo field using the infrastructure of the Sakhalin-1 consortium in accordance with the licence obligations and the joint processing development chart.

Adapted from press release by Katie Woodward

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