Mozambique Oil & Gas: Eni to expand floating LNG plans

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Floating liquefied national gas (FLNG) sector to see significant growth in both investment and activity, over the next seven years, according to a report.

Italian oil major Eni has announced that its floating LNG project off Mozambique’s northern province of Cabo Delgado, which received government approval yesterday, will be able to produce around 3.4 million tonnes of liquefied natural gas (LNG) per annum, up from initial estimates of 2.5 mtpa.

The company’s Plan of Development (POD) foresees the drilling and completion of 6 subsea gas wells in the Coral field, which contains 5 trillion cubic feet of gas more than 2,000 meters under the sea, 80km offshore from the town of Palma.

Eni’s project will build the first floating LNG (FLNG) facility in Africa, the company said in a statement. The new capacity is more than a third larger than that previously predicted.

Eni is the operator of Area 4 with a 50% indirect interest, owned through Eni East Africa (EEA), which holds a 70% stake of Area 4. The other Concessionaires are Galp Energia, KOGAS and Mozambique state oil company Empresa Nacional de Hidrocarbonetos (ENH) with a 10% stake each. China’s CNPC owns a 20% indirect interest in Area 4 through Eni East Africa.(source:Zitamar News)

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