Russian Oil Giant Rosneft plans to build LNG plant in Venezuela - CEO

Jun 21, 2016 12:00 AM

Russia's energy company Rosneft will extract gas offshore in Venezuela and build a liquefied natural gas (LNG) plant in the country, company's CEO Igor Sechin said Tuesday.

Rosneft and Venezuelan PDVSA have signed an agreement on the basic terms of a joint venture for the extraction, preparation and monetization of gas fields of Patao, Mejillones and potentially of Rio Caribe.

"We will certainly implement the extraction [of gas] offshore in Venezuela and will definitely put an LNG liquefaction plant there," Sechin said in an interview with Rossiya-24 television.

Venezuelan Petroleum and Mining Minister Eulogio Del Pino said that PDVSA and Rosneft might sign documents on the establishment of a joint gas project in Venezuela within two months, possibly in July, during a Venezuelan visit of Igor Sechin on May 22-24.

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