The Russian and US energy giants have reportedly agreed to study the possibility of building a $15 billion LNG plant that would liquefy gas produced from the duo's Sakhalin 1 consortium off Russia's Pacific coast.

Rosneft president Igor Sechin, speaking to Vladimir Putin by video link from Sakhalin, told the Russian leader that the LNG plant could either be built on the island or in the far-eastern region of Khabarovsk, Reuters reported.

Production