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Qatar studies Mozambique's gas fields

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London/Doha - Sources say Qatar Petroleum is interested in the Mozambique gas business of Italian energy group Eni and could opt to join Exxon Mobil in buying a multibillion-dollar stake.

State-controlled Eni is looking to reduce a 50% stake in its giant Mozambique gas acreage as part of plans to sell $5.6bn of assets over the next two years. Last month sources said that Exxon had reached a deal that could give it an operating stake in the onshore liquefied natural gas (LNG) export plant, while leaving Eni in control of the Area 4 gas fields feeding it.

Qatar Petroleum is in talks with Exxon and Eni on some kind of involvement in Mozambique which could involve a joint investment with the US major, one senior QP source said, adding the deal was not a classic joint venture structure. A second Doha-based source said Qatar Petroleum had been looking at Eni's Area 4 field as well as adjoining acreage of Anadarko Petroleum, but added the focus was on Eni.

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