MOSCOW (MRC) -- Italy's Eni should make a final investment decision on its first offshore deep-water LNG project in Mozambique by the end of this year, said Reuters, citing Energy Minister Lleticia da Silva Klemens.
US company Anadarko is expected to make its own investment decision on a separate LNG project next year, da Silva Klemens said.
Mozambique has some 85 Tcf of gas reserve, enough to supply Germany, Britain, France and Italy for nearly two decades. It is likely to take at least five years after final investment decisions before gas production begins.
As MRC informed earlier, Eni reported that its third-quarter loss attributable to shareholders from continuing operations narrowed to 562 million euros from 783 million euros.
Eni is an Italian multinational oil and gas company headquartered in Rome. It has operations in in 79 countries, and is currently Italy's largest industrial company with a market capitalization of EUR68 billion (USD 90 billion), as of August 14, 2013. The Italian government owns a 30.3% golden share in the company, 3.93% held through the state Treasury and 26.37% held through the Cassa depositi e prestiti. Another 39.40% of the shares are held by BNP Paribas.
MRC