Qatar Petroleum is interested in the Mozambique gas business of Italian energy group Eni and could opt to join Exxon Mobil in buying a multibillion-dollar stake, sources familiar with the matter said.
State-controlled Eni is looking to reduce a 50 percent stake in its giant Mozambique gas acreage as part of plans to sell 5 billion euros of assets over the next two years.
Last month sources told Reuters Exxon had reached a deal that could give it an operating stake in the onshore liquefied natural gas (LNG) export plant, while leaving Eni in control of the Area 4 gas fields feeding it, where some sources said that Qatar Petroleum is trying to get a stake as well.
Located in Mozambique’s Rovuma Basin, Eni’s Area 4 is one of the biggest discoveries of recent times, holding about 85 trillion cubic feet of gas.
In 2013 Eni sold 20 percent of Area 4 to China’s CNPC for $4.2 billion but since then oil and gas prices have dropped by more than half.
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