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Market Chatter: Eni Reportedly Explores 1 Billion Euro LNG Asset Funding Deal, Reuters Says

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Eni (E) has asked Morgan Stanley to assist in raising funds from infrastructure investors, including Apollo Global Management, KKR, and Stonepeak, in a potential transaction backed by its floating liquefied natural gas assets, Reuters reported on Tuesday, citing people familiar with the matter.

According to Reuters, discussions remain at an early stage, and a transaction is not guaranteed, as the structure and terms are still subject to change.

The proposed deal could raise at least 1 billion euros ($1.17 billion) for Eni, one of the sources told Reuters.

Neither Eni, Morgan Stanley, nor the named investors immediately responded torequests for comment.

Reuters reported that the plan aligns with Eni's broader strategy to attract infrastructure capital to free up balance-sheet capacity for new upstream oil, gas, and LNG developments.

One structure under consideration would involve an infrastructure fund providing an initial cash injection into a special-purpose vehicle, which would then be entitled to receive cash flows generated by Eni's FLNG assets.

The discussions come amid intensifying global competition for LNG cargoes across Europe and Asia, as supply disruptions linked to geopolitical tensions continue to ripple through markets.

Eni has built a significant FLNG portfolio, including three floating liquefaction units operating offshore Mozambique and Congo, processing natural gas for export. The company is also advancing FLNG capacity, including a multi-billion-dollar project in Mozambique and two additional units for YPF in Argentina, targeted for completion by 2030.

If completed, the structure would provide investors with exposure to long-term cash flows from assets across Africa and other regions outside the Middle East, offering diversification away from geopolitically sensitive supply zones.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $55.45, Change: $-0.01, Percent Change: -0.02%

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