Qatar to Join Exxon in Mozambique’s Gas Development

Qatar to Join Exxon in Mozambique’s Gas Development

Qatar Petroleum is interested in joining US ExxonMobil  in buying a multibillion-dollar stake in Mozambique’s giant gas acreage owned of Italian energy group Eni, as the state-controlled company looks to reduce a 50% stake in the development, Reuters reported.

Qatar Petroleum has been considering Eni’s Area 4 field and adjoining acreage of Anadarko Petroleum Corporation, as the company’s CEO, Saad al-Kaabi, recently confirmed that the group was looking at assets in Africa, according to ET Energy World.

Earlier, Egypt Oil&Gas had reported that Eni reached an agreement with US ExxonMobil to sell its multi-billion dollar stake in the planned offshore liquefied natural gas (LNG) development project in Mozambique, with Exxon operating the onshore liquefied natural gas (LNG) export plant and leaving Eni in control of the Area 4 gas fields feeding it.

Located in Mozambique’s Rovuma Basin, Eni’s Area 4 is one of the biggest discoveries of recent times, holding about 85tcf of gas.


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