CAPE TOWN, Nov 5 (Reuters) - Angola has formed a consortium
with five international oil companies including Eni and
Chevron to develop liquefied natural gas (LNG) for its
Soyo plant, the newly formed national oil, gas and biofuels
agency ANGP said.
The consortium's project will have an initial cost of $2
billion, with an aim to start production by 2022, an ANGP
spokesman said on the sidelines of the Africa Oil Week
conference in Cape Town.
Italy's Eni will operate the project, and the members will
share costs according to participation.
Chevron will take a 31% stake, Eni 25.6%, Sonangol P&P
19.8%, Total 11.8% and BP 11.8%.
The Soyo LNG plant is designed to process 1.1 billion cubic
feet of natural gas per day and has the capacity to produce 5.2
million tons of LNG per year, as well as natural gas, propane,
butane and condensate.
(Reporting by Libby George; Editing by Dale Hudson)