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Eni Acquires the Tango FLNG to Produce and Export LNG from the Republic of Congo

Eni - Press release

Eni informs that it has acquired the
company Export LNG Ltd, which owns the Tango FLNG floating liquefaction facility,
from Exmar group. The facility will be used by Eni in the Republic of Congo, as part of
the activities of the natural gas development project in the Marine XII block, in line with
Eni's strategy to leverage gas equity resources.

The Tango FLNG, built in 2017, has a treatment capacity of approximately 3 million
standard cubic meters/day and an LNG production capacity of approximately 0.6
million tons per year (about 1 billion standard cubic meters/year). The acquisition of
this facility allows the development of a fast-track model capable of seizing the
opportunities of the LNG market. In addition, the high flexibility and mobility
characteristics of the Tango FLNG will favour the development and enhancement of
Eni's equity gas by accelerating production start-up time.
Tango FLNG will begin its activity in Congo in the second half of 2023, following the
completion of mooring and connection works necessary to tie with the Marine XII
network and infrastructure. LNG production from Marine XII is expected to begin in
2023, and when fully operational it will provide volumes in excess of 3 million tons/year
(over 4.5 billion cubic meters/year).

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