- Russia's Energy Minister says he has discussed with Exxon Mobil (NYSE:XOM) CEO Rex Tillerson the possibility of securing rights to export natural gas to China via the Sakhalin Island in the Pacific Ocean.
- XOM is an operator of the offshore Sakhalin-1 project being jointly developed with Rosneft (OTCPK:RNFTF) under a production-sharing agreement formulated in the 1990s, but the project's gas deposits have long been locked in due to a price dispute between Sakhalin-1 and Gazprom (OTCPK:OGZPY), which has a monopoly right to export gas.
- The minister says he discussed various options with Tillerson at this week's St. Petersburg International Economic Forum