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Eni and Korea Gas Corporation strengthen co-operation

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LNG Industry,

Claudio Descalzi, Eni CEO, and Hee-bong Chae, Korea Gas Corporation President and CEO last week signed a Memorandum of Understanding (MoU) to identify specific co-operation opportunities in different areas such as exploration and production projects, LNG projects, downstream and infrastructure projects and in particular circular economy and low-carbon energy projects.

The two companies have been co-operating in the exploration and production business over the past decade in Africa, the Middle East, South-East Asia and the Mediterranean. In particular, the Mozambique Area 4 project and the Iraq Zubair project are representative examples of the successful co-operative relationship between the two companies.

“By signing this MoU with Eni, we shared the strong willingness of both companies to lead the era of low-carbon and eco-friendly energy. Our strong relationship can settle the basis for a new business with the aim of the second Mozambique Area 4 and Iraq Zubair project, which represents the new energy era,” said Hee-bong Chae, CEO of Korea Gas Corporation.

Claudio Descalzi, CEO of Eni said: “As Eni wants to play a decisive role in the process of energy transition towards a low-carbon future, this collaboration is in line with the direction we want to follow to ensure sustainable growth. This MoU fits our culture based on integration, efficiency, and a constant focus on technological innovation and research, which has allowed Eni to enhance the assets in a different way.”

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