Rosneft has reportedly delayed the start-up of its Far East liquefied natural gas facility on the Sakhalin island for at least two years.
Initially, the liquefaction plant was planned to start production in 2018 following a deal with ExxonMobil in 2013.
Rosneft’s CEO Igor Sechin confirmed earlier reports of possible delays saying that the plant will not start operation before 2020, Reuters reports.
It was earlier reported that the project with a planned output of 5 mtpa could be delayed for three to five years due to falling oil price and lack of funds.
LNG World News Staff; Image: Rosneft