LNG

French major TotalEnergies, a shareholder in the Angola LNG export plant, has finalized the sale for $400 million to a unit of Malaysian energy company Petronas of a stake in Block 20 in the Kwanza Basin offshore the Angolan coast.

Italian energy company Eni has upgraded the resources by more than three times in the Ndungu field offshore the LNG-producing nation of Angola and said the move showed how improved technology can alter the profile and economic viability of a discovery.

UK major BP and Italian energy company Eni have agreed to form a 50-50 joint venture company in the LNG-producing state of Angola in southwest Africa called Azule Energy.