Eni Upbeat over Mozambique, Egypt LNG
In a broader 2018-21 strategy presentation March 16, Eni CEO Claudio Descalzi discussed plans for a new LNG development in Mozambique and a restart in Egypt.
Descalzi said that Exxon has given a 2019 target for Final Investment Decision (FID) in the first onshore LNG development of the Area 4 offshore gas, in which both companies and others are partners.
“We are happy with that, and following them on that,” the CEO said: “Almost all the packages are ready and we looking at a possible upgrade of each train.”
Eni is leader of the Coral floating LNG export project also offshore Mozambique, which took FID last year and is expected onstream 2022.
Both the Mamba and Anadarko-led Mozambique LNG ventures are now working towards FID, with the latter this year having secured government approval for its development plan.
Asked if a resumption of major LNG exports from Egypt, where Eni has equity in the Damietta export plant, Descalzi said that Egypt for Eni is not just the mega gas-field Zohr, but also Nooros which this week reached 1.2bn ft3/d (32mn m3/d) production.
“Egypt is a big opportunity for gas flow from LNG. By 2019, we can start exporting gas from Egypt,” he added.
He said that Mozambique (Coral and Mamba) and Egyptian gas would be a big focus for upstream investment, but also said that working with partners to bring associated gas to shore in Ghana this June 2018 would also involve capex.
Descalzi was also asked if he was preoccupied with his looming trial – along with others -- this summer in Milan on charges of alleged corruption in Nigeria. He replied: “I don’t spend a second on the Nigeria issue.” He said Eni and he would have the opportunity to defend itself in court, and that he himself is so preoccupied with projects, increasing production, and shareholders: “I don’t think about me. I think about the company and its shareholders.” The next court hearing is scheduled May 14.