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Russia's Rosneft says to launch LNG plant in Far East after 2020

Reuters - UK Focus

MOSCOW, Sept 4 (Reuters) - Rosneft plans to launch the plant to liquefy natural gas (LNG) on Russia's Pacific Island of Sakhalin after 2020, Chief Executive Igor Sechin said in his presentation, behind the initial schedule.

Sources told Reuters in April that Rosneft may have to delay development of its LNG on Sakhalin for at least two years, as prices fell and financing all but dried up due to Western sanctions.

Rosneft signed an agreement with ExxonMobil in 2013 that aimed at starting production of 5 million tonnes per year of LNG from 2018 on Sakhalin. (Reporting by Katya Golubkova)