Rosneft, with U.S. partner Exxon, on track with LNG plant

|About: Rosneft Oil Company OJSC (RNFTF)|By:, SA News Editor

Rosneft (RNFTF) says it is on track to start production at its first liquefied natural gas plant in Russia's far east in 2018-19, and signals that its partnership with Exxon Mobil (XOM -0.3%) for building the plant will not be affected, despite tension over Ukraine.

Rosneft says current LNG prices in Asia, at more than $15/MBtu, would enable it to successfully carry out its LNG project, which will have an initial annual capacity of 5M metric tons.

Rosneft also says it expects its gas output this year to rise to ~55B cubic meters and to more than 63B next year.