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    Eni May Sell 15-20% Stake in Mozambique Gas Asset

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Summary

Eni may sell 15-20 per cent stake in its giant Rovuma gas field in Mozambique, but only after first taking a final investment decision due later this year.

by: shardul

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Asia/Oceania

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Eni May Sell 15-20% Stake in Mozambique Gas Asset

Eni may sell 15-20 per cent stake in its giant Rovuma gas field in Mozambique, but only after first taking a final investment decision due later this year, news agency Reuters reported company CEO Claudio Descalzi as saying on Thursday.

The Italian energy firm holds a 50 percent stake in Area 4 field which contains reserves of around 90 trillion cubic feet (tcf).

The field is part of the wider Rovuma basin that is estimated to hold more than 150 tcf of natural gas.

Speaking at a strategy update for investors in London, a separate Eni executive added that the company aims to take a final investment decision on a floating liquefied natural gas (LNG) export plant also in Mozambique by December this year, added Reuters.

 

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