Copyright Reuters 2016

(Copyright Reuters 2016)

Russia's Rosneft plans to take final investment decision on Far East LNG in 2017-18

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YUZHNO-SAKHALINSK, Russia (Reuters) - Russia's Rosneft plans to take a final investment decision on its Far East LNG project in 2017-2018, according to a presentation by Rosneft department head Alexander Zharov at a conference on Wednesday.

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The presentation also showed that the production at the plant may start after 2023. Rosneft, which partners with ExxonMobil, Sodeco and ONGC at the project, plans to produce 5 million tonnes of LNG at the plant at the start, with possibility of rising to 10 million tonnes in the future.

(Reporting by Katya Golubkova; Editing by Sandra Maler)