Russia and China to finance gas project in Russia's Far East

Russia’s state development bank VEB said it had agreed financing of a natural gas project in Nakhodka town in Russia’s Far East with China’s state development bank.

The plant would produce methanol and nitrogen fertilisers, using gas from fields in Sakhalin island, VEB said.

The Chinese bank was expected to invest in building the plant, which would start this year, VEB said in a statement.

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