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Eni committed to Coral gas project
The sacking of Mozambique’s Energy Minister Pedro Couto will not affect Italian firm Eni’s offshore gas project decision, Eni Chief Executive Claudio Descalzi told Reuters. The sacking occurred a month before Eni is due to finalise its decision on the Coral offshore gas project, worth tens of billions of dollars.No reason was given for the Energy Minister’s dismissal.
Mozambique discovered offshore gas reserves six years ago amounting to some 85tn cf, one of the largest finds in a decade. The gas will help the southern African country transform itself from one of the world’s poorest countries into a middle income state and a major LNG exporter. Eni bankers met in London in September to discuss project financing to develop the field.
News Item details
Journal title: Petroleum Review
Subjects: Economics, business and commerce, Liquefied natural gas, Oil and gas, Exploration and production
