Final Fantasy VII remake announcement at E3 2014 inbound?

There has been a lot of talk, in the past few years, about a possible remake of the massively popular JRPG Final Fantasy VII, but Square Enix always remained semi-silent on the issue, only dropping hints here and there but Producer Yoshinori Kitase himself said that he'd love to do it, but "it would take a lot" for it to happen.

Recently industry insider Verendus, that is known to have very strong connections within the Japanese gaming industry, posted on NeoGAF mentioning that the project is happening:

It's happening. He's obviously not going to give any indication as such though so it hardly matters until they're ready to announce something. His comments make sense. It's a huge project that will take a lot of effort, and demand a lot from him personally, in order to ensure the end result is something satisfactory.

Along with the info there is an alleged leaked gameplay picture as shown from the pic above but the leaked picture is actually a mock-up using unreal engine and not from the alleged Final Fantasy VII remake.

Of course, as usual with this kind of leaks from insiders, we should take what is said with a sizable pinch of salt, but Verendus has a good track record with the information he receives from his sources so while the rumored Final Fantasy VII remake has not yet been confirmed, fans can get ready for a surprise announcement.