Mozambique's long-delayed offshore gas project with Italy's Eni could be approved within months, sources close to the deal said, sparking investments with the potential to transform one of the world's poorest countries into a major energy player.
Mozambique made one of the world's biggest gas finds in a decade in 2010 but negotiations with operators Eni and U.S. firm Anadarko have dragged on for years due to disputes over terms and concerns about falling energy prices.
But Eni has in recent weeks struck deals with contractors and Mozambique's government which could help it to make a final investment decision (FID) on Oct. 31, industry sources said.
Eni declined to comment. The company's Mozambique concession is split between two huge gas fields, called Coral and Mamba. Eni has previously said it expects to make FID on Coral this year and Mamba in 2017.
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Mozambique made one of the world's biggest gas finds in a decade in 2010 but negotiations with operators Eni and U.S. firm Anadarko have dragged on for years due to disputes over terms and concerns about falling energy prices.
But Eni has in recent weeks struck deals with contractors and Mozambique's government which could help it to make a final investment decision (FID) on Oct. 31, industry sources said.
Eni declined to comment. The company's Mozambique concession is split between two huge gas fields, called Coral and Mamba. Eni has previously said it expects to make FID on Coral this year and Mamba in 2017.
Read more.......
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