Gas prices have been soaring over the last few months as supply concerns have continued to increase.
In particular, Europe has felt the effects of these high prices as it relies on Russia for gas. This has resulted in Europe having to look for alternative gas supplies. Following increased demand, Eni SpA has announced a plan to build a second liquified natural gas (LNG) gas production vessel off Mozambique. The plan is for the LNG platform to be built within the next four years to allow Europe to diversify its fuel supplies. The second LNG platform would help boost gas exports, which have seen multiple delays over the past few months. Furthermore, this project will help to develop Mozambique’s resources and bring significant revenue to the country.