E.ON to lift LNG capex to €6 bln, eyes Africa

Energy Trade

Germany’s E.ON AG may double its upstream investment programme to €6 billion ($9.45 billion) as the world’s biggest utility expands in north Africa and the Middle East, an official said on Monday.

John Roper, vice-president of LNG and upstream at E.ON, told an energy conference in Dubai the company is targeting production of 10 billion cubic meters a year, up from 3 billion cubic meters currently. “Last year we announced investment programs of €3 billion for upstream and it is likely to rise to €6 billion,” he said. “In LNG, we are looking at business development entry options in Africa and the Middle East. We are in discussions for several sales and purchase and liquefaction projects.” E.ON recently signed up for integrated liquefaction in Equatorial Guinea and is eyeing a similar deal in Nigeria, he added. (Reuters)

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