According to two sources, Italy’s Eni and its adviser Citi expect binding bids for its gas assets in Australia by the end of November.
Indonesia's Medco Energi Internasional, a consortium comprising Australian fund Macquarie and Neptune Energy, and Morgan Stanley Infrastructure are between companies expressing interest in the sale.
The sale will exclude Eni’s solar assets in the region and is estimated to raise USD1 billion.
In Australia, Eni operates several offshore gas fields, has stakes in four exploration licenses, owns the Blacktip Gas Project and has stakes in the Bayu-Undan gas and condensate field and the associated Darwin LNG plant.
The company aims to shift to a greener business with a focus on clean low-carbon products.
