Rosneft has acquired full control of independent gas producer OOO Itera.

The state-owned Russian energy group bought the remaining 49 percent holding it did not own from Itera's founder, Igor Makarov, for $2.9 billion

“Gas business is one of the top priorities,” Rosneft Chief Executive Officer Igor Sechin said in a statement.

The move is expected to boost Rosneft as it positions itself for competition with the state gas monopoly Gazprom and Novatek, Russia’s biggest independent gas producer, when the expected liberalisation of nation's gas export market occurs.

Rosneft and partner ExxonMobil are planning stages of a new LNG facility in the Far East, which would produce 10m tonnes of LNG per year from 2018.