Africa-Press – Mozambique. Eni (NYSE:E) said on Tuesday is planning to accelerate deployment of a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years.
The potential project would complement Eni’s (E) $7B Coral-Sul FLNG platform off Mozambique’s northern coast that is scheduled to start exporting this year.
Coral-Sul has remained on track for first exports, unaffected by an insurgency linked to Islamic State that caused TotalEnergies (TTE) to freeze work last year on a $20B onshore project
Before reaching a final investment decision, Eni (E) will need to agree with partners including Exxon Mobil (XOM), China National Petroleum Corp. and Mozambique’s state-owned Empresa Nacional de Hidrocarbonetos.
Eni (E) reported last week that Q2 profits surged more than 15-fold from a year ago, and it raised its 2022 stock buyback program to €2.4B.
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