Russia-based natural gas extractor Gazprom has approved the construction of a liquefied natural gas (LNG) plant near Vladivostok in the country.

The company held a management meeting and concluded that it will proceed with its action plan regarding the Vladivostok-LNG project.

It was discussed and agreed in the meeting to create a resource base for the LNG plant.

In February 2013, the management approved the investment for the project.

Gazprom’s Vladivostok-LNG project includes setting up an LNG plant on the Lomonosov Peninsula, which will have three process trains with the annual capacity of 5 million tons of LNG each.

The first process train is expected to become operational in 2018.

The gas from the Sakhalin gas production center as well as the Yakutia and Irkutsk centers will serve as the resource base.

Gazprom will sell the LNG produced at the plant to the Asian Pacific markets.