Italy's Eni inks Congo gas deal
The government of Congo and Italian energy company Eni have signed a letter of intent to increase gas production and exports, Eni said on April 21 in a statement.
The agreement provides for the acceleration and increase of gas production in Congo, primarily through the development of an LNG project with start-up expected in 2023. The project will have a capacity of over 3mn metric tons/year once fully operational. Eni said the LNG exports will allow valorising the production of gas that exceeds Congo’s internal market needs.
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The parties have also agreed to promote decarbonisation and sustainable energy transition in the country through renewable energy and capture, use and storage of CO2.
Eni said it is committed to developing the huge gas resources of Congo; it currently supplies gas to the Congo Power Plant, which guarantees 70% of the country's electricity production.
The Italian major is looking to source more non-Russian gas in light of the Ukraine war. The company this month signed an agreement to supply more LNG from its Egyptian upstream portfolio in partnership with the national government.