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Eni's CEO meets Mozambique's president on gas finds
December 12, 2012 / 11:46 AM / 5 years ago

Eni's CEO meets Mozambique's president on gas finds

MILAN, Dec 12 (Reuters) - The head of Italian oil and gas group Eni met the President of Mozambique on Wednesday to discuss the gas export infrastructure in the country which the company needs to develop the country’s major new offshore gas discoveries.

In a statement Eni said liquefied natural gas (LNG) export facilities and the supply of gas for domestic power generation were among the issues discussed by Chief Executive Paolo Scaroni and Armando Guebuza.

Mozambique has estimated that the Rovuma basin, home to the gas finds made by Eni and Houston-based Anadarko, has 150 trillion cubic feet of gas.

LNG plants are crucial for exporting the gas to energy-hungry markets in Asia, including China and India and Eni and Anadarko have talked about jointly developing two LNG trains to export first gas in 2018-2019.

Eni has 70 percent of the giant Mamba field which it is looking to develop with Portugal’s Galp Energia, Korea’s KOGAS and Mozambique’s state-owned ENH.

Earlier this month a source close to the company told Reuters Eni is in early talks with other companies like Shell and Exxon as well as some large LNG buyers to sell down its stake to help spread the costs and risks.

Last week Eni announced further discoveries at Mamba with two new delineation wells to take the full potential of the Mamba geological complex to 75 tcf of gas in place.

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