Ivory Coast has struck oil just as much of the developed world has begun to call time on fossil fuels and some financial institutions are reluctant to take carbon-emitting projects on to their balance sheets.
Why did Eni invest in Ivory Coast gas?
Alessandro Puliti, Eni’s chief operating officer for natural resources, said the Ivorian discovery met the Italian company’s criteria for investment. This was partly because the associated gas could be fed into existing infrastructure that already supplied Ivory Coast with 60 per cent of its electricity, he said.