Eni, maxi-project in Qatar for liquefied natural gas
Eni was selected by QatarEnergy as a new international partner for the expansion of the project North Field East (NFE). The Minister of State for Energy Affairs, President and CEO of QatarEnergy, Saad Sherida Al-Kaabi, and the CEO of Eni, Claudio Descalzi, today, during an official ceremony, they signed the partnership agreement for the creation of the new Joint Venture (JV). QatarEnergy will hold a 75% stake and Eni the remaining 25%. The JV in turn will hold 12.5% of the entire NFE project, which includes 4 mega LNG trains with a combined liquefaction capacity of 32 million tons / year.
The NFE project will increase Qatar’s LNG export capacity from the current 77 MTPA a 110 MTPA. With an investment of $ 28.75 billion, NFE is expected to go into production by the end of 2025 and will employ state-of-the-art technologies and processes to minimize the overall carbon footprint, including capture and the storage of CO2. The agreement marks the completion of a competitive process that began in 2019has a duration of 27 years old. This is a strategic move for Eni, which strengthens its presence in Middle East gaining access to a leading global LNG producer with some of the largest natural gas reserves in the world. This collaboration also represents a significant milestone in the company’s diversification strategy, which expands its portfolio of cleaner and more reliable energy sources.
Descalzi: “Being a partner of Qatar is a privilege”
In his speech during the ceremonyEni’s CEO, Claudio Descalzi, said: “We are honored and delighted to have been chosen as a partner in the North Field East expansion project. As newcomers to this project of LNG of global significance, we feel the privilege and responsibility of being a strategic partner of reference for it State of the Qatar. This agreement is a significant milestone for Eni and fits into our goal of diversification towards cleaner and more reliable energy sources, in line with our decarbonisation strategy. Eni is ready to work with QatarEnergy on this project to positively contribute to increasing the security of gas supply worldwide “.
#Eni #free #Russian #gas #project #worth #billion #Qatar