Italian oil major Eni is exploring the possibility of attracting new institutional investors to help finance liquefied natural gas (LNG) assets, including projects closely linked to Mozambique, according to sources familiar with the process.
According to information reported by Reuters, Eni has mandated Morgan Stanley to structure a potential financing deal aimed at attracting investment funds such as Apollo, KKR and Stonepeak. The transaction is still in an early stage, and there is no guarantee it will be completed.
The proposed structure could involve floating LNG (FLNG) assets, allowing private investors to gain exposure to revenue streams generated by operational energy infrastructure, including units that process and liquefy gas extracted from offshore fields.
At the centre of the strategy is Eni’s need to free up capital for new projects, as the company seeks to accelerate the development of energy assets across multiple geographies, with a strong focus on Africa.
Mozambique is one of the key elements in this financial strategy, as Eni already operates and has significant experience in FLNG units in the region, linked to natural gas exploration in Mozambican offshore fields. The company is also preparing to install a new LNG platform in the country, a project that could exceed $7 billion in investment.
According to the same sources, the planned operation could allow the Italian oil company to raise at least €1 billion, although the final amount will depend on the structure adopted and investor appetite.
The move comes amid intense global competition for natural gas, with European and Asian markets competing for supplies in a context of volatility driven by geopolitical tensions and disruptions in international supply chains.
In addition to Mozambique, the assets considered in the financing model also include projects in other regions such as the Republic of Congo and Argentina, reinforcing Eni’s strategy of diversifying its energy investments.
Source: Diário Económico
