Gas producer Gazprom has announced plans to invest $13.5bn in its liquefied natural gas (LNG) plant near the city of Vladivostok in Russia.
As well as improving the plant, the money will also be spent on infrastructure such as a port, gas pipeline and power station.
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A special-purpose company Gazprom LNG Vladivostok has been set up to implement the project, which is expected to be completed in the third quarter of 2014.
The plant will have a capacity of between 10 million and 15 million tonnes of LNG a year.
The company expects to receive positive feedback from the Russian State Expert Evaluation Department by the end of the year and environmental approval for the project next autumn.
Project investigation works are already underway and the company is also conducting engineering surveys with a purpose to design LNG plant facilities and an export terminal.
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By GlobalDataImage: 3D model of Vladivostok liquefied natural gas project. Photo: courtesy of Gazprom.
