@Eni / Casalborsetti CCS project in Italy
Italian multinational firm Eni has forged new LNG supply deals and financing arrangements to grow its CCS portfolio.
It has signed three long-term agreements with the LNG sellers of the South and North Hub gas projects in Indonesia, both operated by Eni with a material participating interest averaging in excess of 80% across the two hubs.
The contracts further strengthen Eni’s global LNG portfolio and reinforce Indonesia’s role as a strategic supplier to regional and international markets.
The long-term deals relate to LNG volumes coming from Eni operated gas development projects in the Kutei Basin and have cumulative volumes of around 2 million tons per annum (mtpa).
LNG will be supplied through the existing Bontang LNG facilities in East Kalimantan, including through the reactivation of one train that has been idle for several years, thereby maximising the utilisation of Indonesia’s existing energy infrastructure.
These additional LNG volumes will further diversify and strengthen Eni’s global integrated portfolio, supporting the company’s objective of reaching over 20 mtpa of contracted LNG supply by 2030. In February, Eni shipped its first cargo from off Pointe-Noire in the Republic of Congo.
Meanwhile Eni CCUS Holding has secured a financing facility of more than £500m ($671.8m) from a pool of 13 international lenders.
The financing will support projects such as L10-CCS in the Netherlands, one of the leading storage sites in Northwest Europe, and the Bacton CCS project in the UK, which has the potential to support the progressive decarbonisation of industries in southeast England and continental Europe.
Eni CCUS Holding also holds the right to acquire the 50% stake currently owned by Eni in the and may integrate additional projects over time, including investigation of new initiatives, as part of a broader medium- to long-term CCS platform. Its Liverpool Bay CCS project reached .
