Angola, a liquefied natural gas exporter in the Atlantic Basin for more than 10 years, said it was leaving the Organization of Petroleum Exporting Countries because membership of the crude oil cartel was not serving its interests.
Angolan liquefied natural gas project partners, who are also part of the New Gas Consortium (NGC) in the country, have taken a final investment decision for the development of the Quiluma and Maboqueiro fields in the first non-associated natural gas project undertaken in the southwest African nation.
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.