Wednesday, 15 November 2023 04:40

Eni secures additional volumes of LNG from Indonesia

Eni, the Italian energy giant, has entered a sales and purchase agreement with Indonesia's Merakes Liquefied Natural Gas (LNG) Sellers, securing an additional 0.8 billion cubic meters (bcm) of LNG annually. Effective from January 2024 for three years, this deal enhances Eni's flexibility and diversifies its LNG supplies, strengthening its presence in growing markets like South Asia and the Far East. Combined with recent agreements in Congo and Qatar, Eni's LNG portfolio is expanding as part of its energy transition strategy. Operating in Indonesia since 2001, Eni's recent discoveries and acquisitions in the Kutei basin underscore its strategic relationship with Indonesia, aligning with the company's goal to increase the share of gas in upstream production to 60% by 2030.

Eni's strategic move in securing an additional 0.8 bcm of LNG annually through a sales and purchase agreement with Merakes LNG Sellers in Indonesia reflects its commitment to diversify and expand its LNG portfolio. The three-year deal, effective from January 2024, complements existing contracts, boosting Eni's flexibility and presence in key markets. With recent agreements in Congo and Qatar, Eni is on track to more than double its contracted LNG volumes by 2026, aligning with its energy transition strategy. The company's focus on Indonesia, evident in recent discoveries and acquisitions, reinforces its strategic relationship with the country, a crucial player in Eni's LNG endeavors.




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