LNG

May 19 (LNGJ) - UK energy major BP and Italy’s Eni have signed a non-binding memorandum of understanding to progress detailed discussions on combining their upstream portfolios in the southwest African nation of Angola, including all their oil, gas and LNG interests. “The companies believe that combining their efforts in a new joint venture company would bring significant opportunities for them to jointly boost future developments and operations in Angola,” they said.

   Eni and BP have informed the Angolan Government of their intention. “Any final transaction will be subject to relevant governmental, regulatory and partner approvals,” they added. Angola LNG is operated by US major Chevron Corp. and the other shareholders are Angolan energy company Sonangol and France’s Total. The liquefaction plant at the mouth of the Congo River processes 1.1 billion cubic feet of natural gas per day and produces 5.2 million tonnes per annum of LNG from associated gas from crude oil production.