Mozambique's ENH approves investment plan for Eni's Coral South project
MAPUTO (Reuters) -- Mozambique's National Hydrocarbons Company (ENH) said on Wednesday it had approved its investment plan for the Coral South offshore gas project being led by Italian energy company Eni.
Eni's board backed its investment plan last week.
Once all partners do the same, the participants can take a final investment decision (FID) and arrange financing for the liquefied natural gas project (LNG), part of a larger scheme that will require an estimated $50 billion to develop.
"It's a buyer’s market now. We are asking them (sellers) not to include destination restrictions as much as possible and we have made some progress on reaching an understanding," Tokyo Gas Executive Officer Kentaro Kimoto, who is in charge of the company gas resources department told reporters.
Reporting by Aaron Sheldrick and Osamu Tsukimori; Editing by Christian Schmollinger
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