Italy's Eni SpA (ENI.MI) hopes to reach a final investment decision on its second floating liquefied natural gas (LNG) project in Mozambique by the end of June next year, two sources directly involved with the project said on Tuesday.
Eni logo is seen at the Milan's stock exchange during the "Eni Investor Day", Milan, Italy, April 4, 2016. REUTERS/Stefano Rellandini/File Photohopes to reach a final investment decision on its second floating liquefied natural gas project in Mozambique by the end of June next year, two sources directly involved with the project said on Tuesday.
This could also boost Eni's gas output from Africa which it can transfer to Europe, helping diversify Europe's gas sourcing in the next few years, its CEO Claudio Descalzi A final investment decision is a point in a project's development where a major investment commitment is taken and is effectively seen as the final go ahead.and China's CNPC. Portuguese energy firm Galp, Korean Gas Corp. and Mozambique's state oil company ENH are the minority partners with 10% each.
Coral Sul is currently producing 3.5 million tonnes of LNG and the new LNG ship could double the output, the source said.
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