Eni Launches Congo LNG Phase 2 as FLNG Nguya Arrives Offshore Congo

Eni S.p.A E announced the startup of the second phase of the Congo LNG (liquefied natural gas) project ahead of schedule. The company mentioned that the floating liquefied natural gas (FLNG) unit Nguya arrived offshore Congo in Africa, and natural gas has been introduced into the new offshore infrastructure, marking the launch of Congo LNG Phase 2. FLNG Nguya has joined FLNG Tango at the site, which has been part of the Congo LNG project since 2023.Eni Sets New Industry Standard With Congo LNG Phase 2 StartupThe Congo LNG project will develop the gas resources of the Marine XII project using the two FLNG units at the Nenè and Litchendjili fields. Eni, an Italian integrated energy company, stated that it set a standard within the industry in terms of execution speed, with Phase 2 coming online only 35 months after construction of the Nguya FLNG began. The company has also stated that it targets the first LNG export cargo from Phase 2 in early 2026.Details of Congo LNG Phase 2 ProjectThe second phase of the LNG project consists of three production platforms and the Scarabeo 5, which was a drilling rig later converted into a gas treatment, separation and compression unit. The FLNG Nguya, along with the new production platforms and the gas treatment unit, is anticipated to raise the project’s capacity to 3 million tons per annum (MTPA). This integrated setup also enables Eni to develop the offshore gas resources from the Nené and Litchendjili fields and manage the gas volumes in phase to ensure a steady and reliable gas flow to FLNG Tango and FLNG Nguya.The Nguya FLNG is equipped with advanced technologies to help reduce its carbon footprint. Furthermore, it is engineered to handle gas with varying compositions, implying that the FLNG could also support the development of other adjacent gas fields. The Scarabeo 5 unit also incorporates decarbonization technologies, enhancing the project's sustainability.E’s Zacks Rank & Key PicksEni currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are Oceaneering International OII, Canadian Natural Resources Ltd. CNQ and FuelCell Energy FCEL. Oceaneering currently sports a Zacks Rank #1 (Strong Buy), and Canadian Natural Resources and FuelCell carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and business opportunities, ensuring steady revenue growth.Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The company boasts a diversified portfolio of crude oil, natural gas, bitumen and synthetic crude oil. It has delivered 25 consecutive years of dividend increases, one of the longest streaks among global oil producers.FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impacts of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis Report Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report FuelCell Energy, Inc. (FCEL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks