Shock! Russia’s second-largest natural gas company has shut down in Russia

The second largest company in the United States, which is also on the list of the world’s largest corporations Fortune Global 500 – ExxonMobil, froze the construction of a project for liquefied natural gas worth billions of dollars in Russia. The company is halting work on its Far East LNG liquefied natural gas project in the port of De Castries, Russia.

This was announced on one of the Russian radio stations by the governor of Khabarovsk Territory Mikhail Degtyarev, Interfax reported. “The project, which is in the port of De Castri and is a Sakhalin gas pipeline, has been frozen,” he said.

Exxon Neftegaz Limited is a subsidiary of ExxonMobil, which is the operator of the Sakhalin-1 project. In February, the company launched a tender procedure for the selection of contractors for the liquefied natural gas project in the Far East.

According to the project, the terminal was to have a capacity of 6.2 million tons per year in the part of the Sakhalin-1 consortium. The cost of the liquefied natural gas project in the Far East is estimated at $ 4.2 billion. The launch was planned for 2027-2028.

This is another project from which the oil company is withdrawing to Russia. As early as March, Exxon Mobil announced that it was suspending oil and gas production in Russia. With today’s decision to withdraw from the project, the fate of the liquefied natural gas plant in Khabarovsk region remains unclear.

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