Eni, Nigeria LNG Sign Contract for Portfolio Expansion

Date : 01/27/2020 @ 4:04PM
Source : Dow Jones News
Stock : Royal Dutch Shell Plc (RDSA)
Quote : 1887.8  -39.0 (-2.02%) @ 4:35PM

Eni, Nigeria LNG Sign Contract for Portfolio Expansion

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   By Mauro Orru 

Eni SpA (ENI.MI) said on Monday that it has signed a long-term contract with Nigeria LNG Ltd. to acquire 1.5 million tonnes of liquefied natural gas.

The Italian energy company didn't disclose financial terms, but said the deal would enable it to increase its LNG portfolio from 2021.

Eni said the liquefied natural gas would be produced through existing facilities in Bonny Island, Nigeria.

Nigeria LNG Limited is a joint venture comprising Nigerian National Petroleum Corp., Royal Dutch Shell PLC (RDSB.LN), Total SA (FP.FR) and Eni itself, which has a 10.4% interest.

The Nigerian National Petroleum Corp. and other shareholders in the joint venture agreed in December 2019 to move forward with the construction of the Train 7 project.


Write to at mauro.orru@wsj.com


(END) Dow Jones Newswires

January 27, 2020 10:49 ET (15:49 GMT)

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