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Lukoil, Brazzaville Plan December LNG Production

FILE: A Lukoil sign. Taken March 2, 2022
FILE: A Lukoil sign. Taken March 2, 2022

MOSCOW - A senior executive at Russia's Lukoil energy company said a project in the Congo in which it is involved will begin producing liquefied natural gas (LNG) in December, Russian news agencies reported

Lukoil Vice President Ivan Romanovsky said the initiative will produce around 600,000 tons of LNG per year, and that Lukoil plans to boost total LNG output at the Marine XII oil and gas project in Republic of Congo - Brazzaville to 3 million tons by the end of 2025.

Lukoil acquired a 25% stake in Marine XII in 2019. The project also involves Italy's Eni, which holds a 65% stake, as well as a Congo state-owned company which holds 10%.

Lukoil and Eni have previously applied for two new energy blocks - Marine 24 and Marine 31 - in a bid to further boost production of Congo's offshore energy resources.