Eni’s entry into Qatar in what could be the largest LNG project in the world, liquefied natural gas, is leading news. Eni’s arrival in Qatar was intended a QatarEnergy which has chosen the Italian company as a new international partner for the expansion of the North Field East project.
Official partnership agreement signed
The news of Eni’s entry into Qatar has now become official. The Minister of State for Energy Affairs, as well as the president and CEO of QatarEnergy, Saad Sherida Al-Kaabi, has in fact signed the partnership agreement with Eni’s CEO, Claudio Descalzi.
It is a LNG project of global significance and Eni’s entry into the project represents something very important. This agreement means that Eni increases its efforts in diversifying towards cleaner and more reliable energy sources. In fact, Eni has already embarked on an ambitious decarbonization strategy. Eni’s entry into Qatar must therefore be seen as an important contribution to increasing the security of gas supply worldwide.
What is the North Field East project
The project North Field East it should make it possible to significantly increase LNG export capacity from Qatar. The investment is $ 28.75 billion and North Field East is expected to go into production by the end of 2025. The project will also employ cutting-edge technologies to minimize the overall carbon footprint. Eni’s entry into the project is an important strategic move as it strengthens its presence in the Middle East. Not only that, Eni in Qatar writes a new stage of company diversification by expanding its portfolio of clean energy sources.
The important news from Eni in Qatar comes at a delicate moment. The war in Ukraine has indeed led to very serious risks with regard to energy supply. Gazprom in fact, it has begun to cut gas supplies, thus making the search for new sources of supply vital. Qatar is one of the countries with the largest natural gas reserves in the world. Consequently, this entry of Eni represents an essential step and to have greater availability of gas on the market.
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