London — A senior executive at Russia’s Lukoil (LKOH.MM) energy company said a project in the Congo in which it is involved will begin producing liquefied natural gas (LNG) in December, Russian news agencies reported.
Lukoil Vice President Ivan Romanovsky said the initiative will produce around 600,000 tonnes of LNG per year, and that Lukoil plans to boost total LNG output at the Marine XII oil and gas project in the Congo to 3 million tonnes by the end of 2025.
Lukoil acquired a 25% stake in Marine XII in 2019. The project also involves Italy’s Eni (ENI.MI), which holds a 65% stake, as well as a Congo state-owned company which holds 10%.
Lukoil and Eni have previously applied for two new energy blocks – Marine 24 and Marine 31 – in a bid to further boost production of Congo’s offshore energy resources.
*Christian Schmollinger – Reuters
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