(Alliance News) - Eni SpA and its Nigerian partners have taken the final investment decision for the expansion project of the liquefied natural gas plant, the Italian oil and gas company reported Friday.
Eni holds a 10% share in Nigerian project. Other partners are NNPC, which has 49% stake, Royal Dutch Shell PLC, holding 26% interest, and Total SA, which has 15% stake.
Eni said the development, which is expected to start in 2024, will increase the annual production capacity of the plant to more than 30 million tonnes per year from the current 22.5 million tonnes per year.
Eni shares were trading 0.1% lower in Milan on Friday at EUR14.00 a share, while Total shares were up 0.2% in Paris at EUR49.56, and Shell A shares were marginally higher at 2,279.00 pence in London and B shares were up 0.2% at 2,280.50p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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