October 3, 2022

Wire Service Canada

Complete Canadian News World

Gas, Eni enters the largest LNG project in the world. Descalzi: “The agreement in Qatar is a milestone”

Milan – Eni’s diversification strategy continues, in the geography of partners around the world, in search of alternatives to Russian supplies. And while today it was also confirmed that Gazprom will deliver gas quantities in line with the previous days (about 50% of the usual level) where are you Announces its entry into the world’s largest liquefied natural gas project in Qatar.

The Italian company was actually chosen by Qatar Energy as a new international partner To expand Northeast Field Project, in the Gulf State. Minister of State for Energy Affairs, President and CEO of Qatar Energy Company, Saad Sherida Al Kaabiand CEO of Eni, Claudio DescalziSigned today during a formal ceremony, Partnership agreement to establish a new joint venture. Qatar Energy will own 75 percent and Eni will own the remaining 25 percent.

The Nfe project, as Eni explains, will allow for an increase Qatar’s LNG export capacity ranges from 77 million tons per year to 110 million tons per year. With an investment of $28.75 billion, Nfe . should Entered into production by the end of 2025 It will use the latest technologies and processes to reduce the overall carbon footprint, including Carbon dioxide capture and storage.

The agreement, which is a continuation of a competitive process that started in 2019, for 27 years. This is a strategic move for Eni – confirms a note from the company – strengthening its presence in the Middle East by gaining access to a leading global producer of LNG, With natural gas reserves among the largest in the world. This collaboration also marks a milestone in the company’s diversification strategy, which is expanding its portfolio of cleaner and more reliable energy sources.

READ  How and where to shop weekly cheaply with smarts and avoid waste

“We are honored and delighted to have been selected as a partner in the Northeast Field Expansion Project. As newcomers to this globally relevant LNG project, we hear Privilege and responsibility to be a reference strategic partner About the State of Qatar,” Eni CEO Claudio Descalzi commented in his speech during the ceremony as part of the new partnership for the North East Field project in Qatar.

“This deal is one An important milestone for Eni It is part of our goal of diversifying towards cleaner and more reliable energy sources, In line with our decarbonization strategy. He concluded that Eni is ready to work with Qatar Energy on this project to contribute positively to increasing the security of gas supplies around the world.