E.ON to lift LNG capex to €6 bln, eyes Africa
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)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.