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23-10-2023

Eni signs long term LNG agreement for deliveries from North Field East expansion project in Qatar

Eni has signed a long-term contract with QatarEnergy LNG NFE (5), the JV between Eni and QatarEnergy for the development of the North Field East project in Qatar, for the delivery of up to 1.5 billion cubic meters per annum of LNG. The available volumes will be delivered at the receiving terminal “FSRU Italia”, currently located in Piombino, Italy, with expected deliveries starting from 2026 with a duration of 27 years.

The LNG volumes produced by the NFE project will increase Qatar’s LNG production by 45 bcm in addition to the current 108 bcm. The LNG supply contract will contribute to Italy's security of supply through the diversification of its supply sources. Eni is already importing in Europe 2.9 bcma from Qatar since 2007 under a long term supply agreement.

This agreement strengthens the partnership between Eni and QatarEnergy, and it is a further step in the development of Eni’s integrated global LNG portfolio.

The participation in the NFE project and the LNG contract are in line with Eni's transition strategy, which aims to progressively increase the role of gas in Eni's upstream production, reaching 60% by 2030, and increasing the contribution of equity LNG, leveraging integration between upstream and gas marketing activities.

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