Eni to work on long-term LNG deal with China’s Zhejiang Energy

Italian energy firm Eni said it would work on a long-term LNG supply deal with China’s Zhejiang Energy as part of a memorandum of understanding revealed on Tuesday.

The memorandum establishes a cooperation framework aimed at facilitating joint initiatives between Eni and state-owned Zhejiang Energy across the gas and LNG value chain in China and internationally, the Italian firm said.

In addition, the memorandum builds on the companies’ “shared goal of promoting a reduction in emissions by favoring a switch from coal to gas in the production of electricity,” it said.

Eni said the initiatives identified in the agreement range from “developing long-term LNG supply agreement to joint participation in gas and LNG projects.”

Using gas to produce electricity instead of coal reduces by as much as half the greenhouse gas emissions of a power plant, providing an “immediate” step forward in decarbonizing the sector, Eni said.

Moreover, Eni said the agreement represents a “further step” in its energy transition process as the company plans to become neutral by 2050.

In the future, gas would represent more than 90% of Eni’s production, it said.

Eni has been present in China since 1984 and has recently established a new representative office in Beijing.

- Advertisements -

Most Popular

South Korean yards built 500 LNG carriers for export in 30 years

South Korean yards have completed 500 liquefied natural gas (LNG) tankers for export since 1994, according to the Ministry...

Report: Egypt’s EGAS charters Hoegh LNG’s FSRU

The Egyptian Natural Gas Holding Company (EGAS) has chartered Hoegh LNG's floating storage regasification and storage unit, Hoegh Galleon,...

MARAD: Delfin needs to submit amended application for FLNG project

The US Maritime Administration (MARAD) said that Delfin LNG needs to file an amended application for its floating LNG...

More News Like This

Eni’s LNG sales flat in Q1

Italian energy firm Eni said its liquefied natural gas (LNG) sales in the first quarter of this year were...

Italy’s Piombino FSRU gets first cargo from Eni’s Congo LNG project

Snam's Piombino FSRU-based terminal in Italy has received the first liquefied natural gas cargo produced at Eni's Tango floating...

Wison installs first SPB tank on Eni’s FLNG

China’s Wison New Energies has installed the first SPB liquefied natural gas (LNG) tank on Eni's Congo FLNG. The...

Italy’s Piombino FSRU set to receive first cargo from Eni’s Congo LNG project

Italy’s Eni is expected to deliver soon the first liquefied natural gas cargo produced at its Tango floating LNG...