April 11, 2013 / 10:46 AM / 5 years ago

Exxon sees Rosneft's Russia LNG project costs at $15 bln

ULAN-UDE, Russia, April 11 (Reuters) - Rosneft and ExxonMobil will have to invest some $15 billion to build a liquefied natural gas plant and necessary infrastructure in Russia’s Far East, an Exxon official told Russian President Vladimir Putin on Thursday.

“We are talking probably about $15 billion,” ExxonMobil Development President Neil Duffin told Putin via a video link from Russia’s Pacific island of Sakhalin. Putin was in the East Siberian city of Ulan-Ude.

Rosneft and U.S. major ExxonMobil have agreed to study the possibility of building a plant to liquefy gas from their Sakhalin-1 oil and gas project off Russia’s Pacific coast.

Rosneft Chief Executive Officer Igor Sechin said the plant could be either built on Sakhalin or in the mainland, Khabarovsk region, in Russia’s Far East.

Sechin also said that Rosneft and South Korea’s STX Corp were in talks over building a fleet of vessels and platforms for Rosneft’s offshore projects.

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