Eni signs agreement to ensure further volumes of LNG from Indonesia

Thanks to these new volumes, Eni can ensure greater flexibility and further diversification of its LNG supplies, while strengthening its presence in growing markets such as South Asia and the Far East.

This contract – together with the long-term contract recently signed with the Marine XII JV in Congo for LNG volumes of approximately 4.5 billion m³, and the contract with QatarEnergy LNG North Field (NFE) for up to 1.5 billion m³ of LNG from the NFE project – contributes to the build-up of Eni's LNG portfolio by leveraging strong relationships with the countries of operation. Eni’s integrated approach – that builds on the upstream developments to the LNG marketing – is in line with the company’s energy transition strategy, which aims to progressively increase the share of gas in overall upstream production to 60% by 2030, while also increasing the contribution of equity LNG. Eni aims to more than double its contracted LNG volumes to over 18 million tpy by 2026, leveraging integration between upstream and gas marketing activities.

Eni has been operating in Indonesia since 2001 across exploration, development, and production. The recent announcement of the Geng North discovery, along with the acquisition of Chevron’s assets and the envisaged fast-tracking of Indonesia Deep-water Development (IDD), significantly reinforce Eni presence in Indonesia's Kutei basin, close to the existing Bontang LNG facilities, and confirm the strong relationship with a country that continues to play a strategic role in Eni’s LNG portfolio.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31102023/eni-signs-agreement-to-ensure-further-volumes-of-lng-from-indonesia/