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Exxon Mobil Acquires Liquefied Natural Gas Assets In Mozambique

- Jan 09, 2018 -

ExxonMobil recently announced that it has completed an asset transaction with Eni, acquiring a 25% indirect stake in Block 4 of Mozambique and will be responsible for the midstream business of the project, leading the construction and operation of all natural gas liquefaction equipment and related facilities in the future. Then Eni continues to be responsible for the floating gas LNG project in Coral and all upstream operations.

Through the deal, Exxon Mobil acquired 35.7% of Eni East Africa Company (to be renamed Rovuma Venture of Mozambique), 35.7% of Eni and 28.6% of Petro China. Enea East Africa owns 70% of Mozambique's Block 4 and the remaining holders are 10% of Empresa Nacional de Hidrocarbonetos, 10% of South Korea's Gazprom and 10% of Galp Energia.