ANGOLA ALGERIA CAMEROON CHAD. CONGO EGYPT.. EQUATORIAL GUINEA GABON LIBYA. NIGERIA SOUTH AFRICA SUDAN TUNISIA OTHERS
Eni Announces the Acquisition of 13.6% Stake in Angola LNG
12-12-2007
Eni announced the acquisition of the 13.6pct stake in the consortium Angola Lng Limited (A-Lng). The consortium, a note explains, is constructing a plant for natural gas liquefaction in the Soyo area, around 350km north of Luanda.
The plant will have a capacity
of around 5.2 million tonnes per year, processing around 300 billion tonnes of
natural gas per year in its 30 years of expected life. Besides LNG, the plant
will produce important amounts of propane, butane and condensate. The liquefied
natural gas will be shipped to the U.S. market and will undergo regasification
at the plant of Pascagoula in the Gulf of Mexico.
The project has a high environmental importance since it allows for the use of
the by-product gas in offshore plants,
avoiding it to be flared off,
obeying this way to the "zero-flaring" policy enforced in the country at
present.
Angola LNG includes Sonagas (22,8pct), Chevron (36,4pct), Eni (13,6pct), Total (13,6pct) and Bp (13,6pct), and will build the first gas valorisation plant in Angola, a country with large gas reserves. Eni becoming part of the project is part of the framework of strategic cooperation between Eni and Sonangol signed in December 2006, aimed at the development of resources in the gas sector.
In this context Eni finalized a participation agreement in a consortium led by Sonagas (40pct) for the assessment of already discovered gas reserves and for the exploration of a further offshore potential of Angola to study the feasibility of a second LNG plant.