Angola formed a consortium with five international oil companies: Chevron, Eni, Sonangol P&P, Total, and BP to develop liquefied natural gas (LNG) for its Soyo plant.
The initial cost of the project will be USD2 billion, targeted to start production by 2022. Eni will operate the project, which is designed to proceed 1.1 billion cu ft/day of natural gas, while the production capacity would be 5.2 million tpa of LNG, as well as natural gas, propane, butane, and condensate.
Chevron will take a 31% stake, Eni 25.6%, Sonangol 19.8%, Total 11.8% and BP 11.8%.
