Eni is looking to squeeze more cash out of LNG without giving up control of the business.
Reuters reported Tuesday that the Italian energy major has hired Morgan Stanley to explore a potential deal involving its floating LNG assets, with infrastructure giants including Apollo, KKR, and Stonepeak reportedly approached in early-stage discussions.
The structure under consideration would allow outside investors to inject capital into a vehicle tied to cash flows from Eni’s floating LNG operations.
The deal could raise at least €1 billion for Eni, according to Reuters sources.
Global LNG markets remain under pressure from the Iran war and the ongoing disruption around the Strait of Hormuz, forcing Europe and Asia into an increasingly aggressive fight for cargoes.
