POINTE-NOIRE (Republic of the Congo). March 20 (Interfax) - Lukoil (MOEX: LKOH) and its partners in the project to develop the Etinde field off the coast of Cameroon are considering producing liquefied natural gas (LNG) at a floating plant, the Russian oil company's vice president for the Americas, Africa and the Middle East, Ivan Romanovsky told reporters.
"We are tentatively considering the possibility of bringing in a floating plant to liquefy gas for the realization of the gas component of this field," he said.
He also said the Cameroon authorities are now in the process of approving a new partner's entry into the consortium. Project operator New Age announced the sale of its stake in 2022.
"We hope that these approvals will be received some time in July," Romanovsky said. After the Cameroon authorities approve the deal, the new operator will present a plan to develop the field, he said.
Lukoil joined the Etinde deep water project in June 2014. The 460-square-km block is located in Cameroon's waters in the Gulf of Guinea, 20 km from shore, next to the border with Equatorial Guinea. It is being developed under a production sharing agreement signed in December 2008. A 20-year license to develop the Etinde block was issued in July 2014.
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