Gazprom is turning to LNG to export future gas production from East Siberia with a new liquefaction plant to be located near the far eastern port of Vladivostok.
The Russian gas giant said it will now proceed into the investment substantiation phase for the planned LNG facility.
The company forecasts construction costs for the 10 million tonnes per annum facility will be between $7 billion and $10 billion, with start-up scheduled for 2017, sources said.
