February 13, 2013 / 3:46 PM / in 5 years

Exxon, Rosneft mull plant to liquefy Sakhalin gas

NOVO-OGARYOVO, Feb 13 (Reuters) - U.S. oil major ExxonMobil and Russia’s Rosneft have agreed to study the possiblity of building a plant to liquefy gas from their Sakhalin-1 oil and gas project off Russia’s Pacific coast, Stephen Greenlee, president of ExxonMobil Exploration, said on Wednesday.

Sakhalin 1 has significant gas reserves but the Exxon-led consortium, operated under production-sharing-agreement, has not found a way to monetise them through exports.

Russian President Vladimir Putin said earlier on Wednesday Russia could consider ways to gradullay liberalise LNG (liquefied natural gas) exports, raising a prospect of exporting the reserves without selling them through export monopoly Gazprom.

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