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Eni buys floating liquefaction facility to produce LNG in Congo Republic

Reuters logo Reuters 05/08/2022

MILAN (Reuters) - Energy group Eni said on Friday it had acquired Tango FLNG to produce and export liquefied natural gas (LNG) from the Republic of Congo, as Italy rushes to find alternative supplies to Russian gas.

Since Russia's invasion of Ukraine in February, Italian ministers and Eni's CEO have travelled to Africa to sign contracts to secure additional gas supplies.

The development of LNG capacity is part of the strategy to cut dependence on Moscow, which last year supplied some 40% of the country's total gas imports.

Built in 2017, the Tango LNG floating liquefaction facility will begin its activity in Congo in the second half of 2023 and become part of Eni's operations of the natural gas development project in the Marine XII block.

LNG production from Marine XII is expected to begin in 2023, and when fully operational it will provide volumes of over 4.5 billion cubic meters per year, Eni said in a statement.

The Italian group said it acquired Export LNG, which owns Tango FLNG, from Belgian ship-owner Exmar.

(Reporting by Gianluca Semeraro and Francesca Landini; editing by Maria Pia Quaglia, Kirsten Donovan)

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