Eni Boosts Congo LNG Capacity With New Nguya FLNG Facility

Eni SpA E, the Italian energy giant, has taken a significant step toward expanding its liquefied natural gas (LNG) operations in the Republic of Congo with the launch of the Nguya Floating Liquefied Natural Gas (“FLNG”) facility. The facility's hull was unveiled at Wison Heavy Industry's shipyard in Nantong, China, marking a milestone for the Congo LNG project.Scheduled to be deployed offshore Congo, the Nguya FLNG boasts a liquefaction capacity of 2.4 million tons per annum (MTPA). This new facility will join the Tango FLNG, which has been operational since December 2023 and has a capacity of 0.6 MTPA. The two units will raise the Congo LNG project’s total liquefaction capacity to an impressive 3 MTPA by the end of 2025.The Nguya FLNG is Eni’s second FLNG unit in Congo and represents a deepening partnership between the energy giant and the African nation. In 2022, Eni secured a contract with Wison Heavy Industry to establish this facility as part of a broader strategy to bolster LNG production and exports.Earlier this year, Congo marked a milestone by exporting its first LNG shipment to Italy, underscoring its growing prominence in the global energy market. Eni emphasized its strategic vision in recognizing and utilizing Congo's gas potential for domestic energy needs and international exports.The Congo LNG project underscores Eni’s commitment to leveraging Africa’s energy resources to address global energy demands. The combined capabilities of the Nguya and Tango FLNG facilities will bolster Congo’s energy export potential and enhance its domestic energy infrastructure, aligning with Eni’s dual focus on export growth and local development.As the Nguya FLNG prepares for its deployment, Eni continues to solidify its leadership in floating LNG solutions, reinforcing its role in shaping the future of global energy markets.E’s Zacks Rank & Key PicksE currently has a Zack Rank #3 (Hold).Investors interested in the energy sector may look at some better-ranked stocks like Smart Sand, Inc. SND, FuelCell Energy FCEL and Nine Energy Service NINE, each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Smart Sand is a low-cost producer of high-quality Northern White frac sand, an ideal proppant for hydraulic fracturing and various industrial applications. The company provides proppant and other logistics services for several companies in the oil and gas industry. With sustained oil and gas market demand, SND is expected to see growing demand for its services, reflecting a positive outlook.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 impact 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.Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position the company for growth in the long run.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 FuelCell Energy, Inc. (FCEL): Free Stock Analysis Report Smart Sand (SND): Free Stock Analysis Report Nine Energy Service, Inc. (NINE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks