Eni is looking to deploy a second liquefied natural gas (LNG) production vessel offshore Mozambique to help Europe in diversifying its fuel supplies, reported Bloomberg News, citing a company executive.
The project is anticipated to be built in less than four years and will complement the Italian energy giant’s $7bn Coral-Sul floating liquefied natural gas (FLNG) platform in Mozambique.
Planned to be deployed in the Coral South field in Area 4 in the Rovuma basin, off the coast of Mozambique, the Coral-Sul FLNG platform is due to start fuel exports this year.
Eni is required to agree with its partners, including ExxonMobil, China National Petroleum, and Mozambican state-owned Empresa Nacional de Hidrocarbonetos, prior to reaching a final investment decision on the proposed LNG production vessel.
In case Eni decides to proceed with the proposed LNG project by early 2023, the project could be commissioned even before TotalEnergies’ $20bn LNG project, on which construction was halted in 2021 due to security issues.
Azule Energy, which combines the two companies’ Angolan businesses, is said to be Angola’s largest independent equity producer of oil and gas.
The firm currently owns stakes in 16 licences and a stake in the Angola LNG JV, and is expected to boost production levels to approximately 250,000 barrels equivalent per day of equity oil and gas over the next five years.