Gazprom eying 5% stake in Eni's Mozambique project
MOSCOW. April 10 (Interfax) - Gazprom is discussing the acquisition of a stake of up to 5% in Eni's Mamba Area 4 project offshore Mozambique, gas sector sources told Interfax.
China National Petroleum Corporation (CNPC) last month bought 20% of the project for $4.21 billion, which would value the 5% that Gazprom is seeking at $1.0525 billion.
Eni recently reported new finds at the field, which would give the property a potential 75 trillion cubic feet (over 2 trillion cu m) in reserves. Eni and Anadarko, operator of Area 1, plan to build an LNG plant in northern Mozambique.
Eni received a 29.4% stake in Russia's SeverEnergia project and is due to sell Gazprom assets worth $360 million outside Russia in exchange. Eni has been unable to secure the consent of other shareholders to sell stakes in oil refineries in Europe, and Libya's government has blocked entry into the Elephant project.