Eni, a leading energy company, is strategically advancing its liquefied natural gas (LNG) portfolio with significant developments in Indonesia and other key regions. This expansion drive follows a recent agreement in Qatar and ongoing progress in Congo Brazzaville as part of Eni’s ambitious goal to increase its upstream gas portfolio to 60% by 2030.
In Indonesia, Eni has entered into a sales and purchase agreement with Merakes LNG Sellers, set to commence in January. This three-year deal, starting in 2024, covers 0.8 billion cubic meters (bcm) of LNG. It complements an existing 1.4 bcm agreement with Jangkrik LNG Sellers that has been in effect since 2017.
On October 23, Eni inked a significant deal with QatarEnergy for the supply of 1.5 bcm of LNG annually from the North Field East (NFE) project. This gas will be delivered to the Italia Floating Storage and Regasification Unit (FSRU) in Piombino. The contract extends for an impressive 27 years, with gas deliveries scheduled to commence in 2026.
Eni’s expansion also includes the deployment of two floating LNG (FLNG) vessels, Tango and Excalibur, which recently set sail from Dubai. These vessels are headed to Congo’s Marine XII license area, where Eni plans to commence gas production in December 2023. Tango FLNG alone has the capacity to produce 1 bcm of gas annually, with a second FLNG vessel boasting a capacity of 3.5 bcm per year set to begin operations in 2025. Eni will be responsible for marketing all the produced LNG.
With these strategic moves, Eni aims to boost its contracted LNG volumes to over 18 million tonnes per year by 2026, further solidifying its position in the global LNG market.
These efforts have been bolstered by Eni’s acquisition of Chevron’s local upstream assets in Indonesia and a significant discovery at Geng North. As Eni continues to navigate the dynamic LNG landscape, it is committed to meeting the world’s growing demand for clean and sustainable energy.
Source: Energy VoiceÂ
