Eni Boosts Congo LNG Capacity With New Nguya FLNG Facility

Zacks11-25 20:46

Eni SpA E, the Italian energy giant, has taken a significant step toward expanding its liquefied natural gas (LNG) operations in the Republic of Congo with the launch of the Nguya Floating Liquefied ...

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The facility's hull was unveiled at Wison Heavy Industry's shipyard in Nantong, China, marking a milestone for the Congo LNG project.Scheduled to be deployed offshore Congo, the Nguya FLNG boasts a liquefaction capacity of 2.4 million tons per annum . This new facility will join the Tango FLNG, which has been operational since December 2023 and has a capacity of 0.6 MTPA. The two units will raise the Congo LNG project’s total liquefaction capacity to an impressive 3 MTPA by the end of 2025.The Congo LNG project underscores Eni’s commitment to leveraging Africa’s energy resources to address global energy demands. The combined capabilities of the Nguya and Tango FLNG facilities will bolster Congo’s energy export potential and enhance its domestic energy infrastructure, align","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU0368265418.SGD":"Blackrock World Energy Fund A2 SGD-H","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","IE00B29SXL02.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) INC","SND":"Smart Sand Inc.","FCEL":"燃料电池能源","IE00B29SXK94.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) ACC","LU0122376428.USD":"贝莱德世界能源基金A2","E":"埃尼石油","BK4179":"石油天然气设备与服务","LU2449327464.USD":"HSBC GIF GLOBAL INFRASTRUCTURE EQUITY \"AC\" (USD) ACC","LU0251142724.SGD":"Fidelity America A-SGD","BK4096":"电气部件与设备","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","FLNG":"FLEX LNG ORD","LNG":"Cheniere Energy Inc","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4541":"氢能源","BK4201":"综合性石油与天然气企业","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","BK4144":"石油与天然气的储存和运输","LU0788109394.HKD":"BGF WORLD ENERGY \"A2\" (HKDHGD) ACC","NINE":"Nine Energy Service Inc."},"translate_title":"埃尼通过新的Nguya FLNG设施提高刚果液化天然气产能","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SND":1,"NINE":1,"FCEL":1,"FLNG":1,"LNG":1,"E":0.9},"content_text":"Eni SpA E, the Italian energy giant, has taken a significant step toward expanding its liquefied natural gas (LNG) operations in the Republic of Congo with the launch of the Nguya Floating Liquefied Natural Gas (“FLNG”) facility. The facility's hull was unveiled at Wison Heavy Industry's shipyard in Nantong, China, marking a milestone for the Congo LNG project.\nScheduled to be deployed offshore Congo, the Nguya FLNG boasts a liquefaction capacity of 2.4 million tons per annum (MTPA). This new facility will join the Tango FLNG, which has been operational since December 2023 and has a capacity of 0.6 MTPA. The two units will raise the Congo LNG project’s total liquefaction capacity to an impressive 3 MTPA by the end of 2025.\nThe Nguya FLNG is Eni’s second FLNG unit in Congo and represents a deepening partnership between the energy giant and the African nation. In 2022, Eni secured a contract with Wison Heavy Industry to establish this facility as part of a broader strategy to bolster LNG production and exports.\nEarlier this year, Congo marked a milestone by exporting its first LNG shipment to Italy, underscoring its growing prominence in the global energy market. Eni emphasized its strategic vision in recognizing and utilizing Congo's gas potential for domestic energy needs and international exports.\nThe Congo LNG project underscores Eni’s commitment to leveraging Africa’s energy resources to address global energy demands. The combined capabilities of the Nguya and Tango FLNG facilities will bolster Congo’s energy export potential and enhance its domestic energy infrastructure, aligning with Eni’s dual focus on export growth and local development.\nAs the Nguya FLNG prepares for its deployment, Eni continues to solidify its leadership in floating LNG solutions, reinforcing its role in shaping the future of global energy markets.\nE’s Zacks Rank & Key Picks\nE currently has a Zack Rank #3 (Hold).\nInvestors interested in the energy sector may look at some better-ranked stocks like Smart Sand, Inc. SND, FuelCell Energy FCEL and Nine Energy Service NINE, each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nSmart Sand is a low-cost producer of high-quality Northern White frac sand, an ideal proppant for hydraulic fracturing and various industrial applications. The company provides proppant and other logistics services for several companies in the oil and gas industry. With sustained oil and gas market demand, SND is expected to see growing demand for its services, reflecting a positive outlook.\nFuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.\nNine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position the company for growth in the long run.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nEni SpA (E) : Free Stock Analysis Report\nFuelCell Energy, Inc. (FCEL) : Free Stock Analysis Report\nSmart Sand (SND) : Free Stock Analysis Report\nNine Energy Service, Inc. (NINE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486807520"}