Eni S.p.A (E) gave the go-ahead to build a $7.2 billion liquefied natural gas facility off of Mozambique's northern coastline, Bloomberg reported Thursday, citing a company statement.
The Coral Norte project will be able to produce 3.6 million tons of LNG annually, doubling Mozambique's fuel production, according to the report.
Eni did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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