Eni buys floating liquefaction facility to produce LNG in Congo Republic

EXMAR NV

05/08/2022 18:05

MILAN, Aug 5 (Reuters) - Energy group Eni  ENI.MI  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  EXMR.BR .

 (Reporting by Gianluca Semeraro and Francesca Landini; editing
by Maria Pia Quaglia, Kirsten Donovan)
 ((gianluca.semeraro@tr.com; +39 06 80 307 741;))