Eni completes sale of upstream assets in Congo to Perenco
Eni, the Italian multinational energy company, announced on March 12 the closure of the sale of its participation interest in several upstream permits in Congo to Perenco. This transaction, which received approval from relevant authorities, aligns with Eni's strategic decision to divest non-core assets in the country.
The company emphasised that the sale is in line with its broader strategy to concentrate its upstream activities on major developments. The company is currently focused on tapping into Congo’s extensive gas resources, notably through the Congo LNG project.
On February 27, Eni, in collaboration with Congo, celebrated the commencement of LNG production in the country. The successful initiation of LNG production marks a significant milestone for Congo, as it joins the ranks of LNG-exporting nations. The first LNG cargo is set to be transported to Piombino’s regasification terminal in Italy in the coming days.
The Congo LNG project is a transformative initiative that harnesses Marine XII gas resources and utilizes existing production facilities. It employs a phased approach, enabling it to achieve a gas liquefaction capacity of approximately 4.5bn m3/year at a plateau while minimising routine gas flaring.
Furthermore, Eni plays a crucial role in supplying gas to the Congo Electric Power Station, which is responsible for generating 70% of the country's electricity production.