Eni, KOGAS to Deepen Cooperation in LNG Sector

Eni on Friday signed a cooperation agreement with Korea Gas Corporation (KOGAS) to deepen cooperation in upstream and LNG sectors.

The agreement will allow the companies to jointly pursue opportunities worldwide, Eni said in a statement.

Eni and KOGAS would look to facilitate the LNG development of Area 4 in Mozambique where Eni is operator with a 50% indirect interest. KOGAS, Galp Energia and ENH own 10% interest each and CNPC holds 20% indirect participation.

Area 4’s total resources are estimated to be approximately 85 trillion cubic feet of gas in place and ready to enter in the development phase in 2015.

“The cooperation agreement confirms the success of Eni and Kogas’s partnership that so far has been involved in five upstream projects including Mozambique, Cyprus, Iraq, Indonesia and Timor Leste,” the Italian company stated.