ENI also concludes agreements with Qatar to purchase gas for 27 years
QatarEnergy has signed another 27-year deal to ship LNG to Europe by agreeing to deliver cargoes for Eni in Italy starting in 2026, following similar agreements with Shell and TotalEnergies to supply to the Netherlands and France respectively.
As part of the latest agreement with Eni, QatarEnergy and the Italian major will supply LNG to FSRU Italia, a floating storage and regasification unit located in the port of Piombino, Tuscany, Qatar's state energy firm said on Monday .
Deliveries are expected to begin in 2026 for a duration of 27 years and will come from the joint venture between QatarEnergy and Eni, which holds a 3.125% stake in Qatar's North Field East (NFE) expansion project.
“Together we will continue to demonstrate our commitment to the European markets in general and the Italian one in particular. Since 2009, Qatari LNG has been arriving at the Adriatic LNG terminal in the northern Adriatic to meet more than 10% of Italy's natural gas needs,” said Saad Sherida Al-Kaabi, Qatar's Deputy Minister for Energy Affairs and President and CEO of QatarEnergy. .
Eni, for its part, said the latest LNG supply contract will contribute to Italy's security of supply through the diversification of its supply sources. Eni has already imported 2.9 billion cubic meters from Qatar since 2007 under a long-term supply agreement.
The QatarEnergy-Eni deal follows similar 27-year agreements signed by Qatar earlier this month: one with Shell to deliver LNG to the GNL Gate terminal in the Port of Rotterdam, and another with TotalEnergies, under which the LNG will be delivered to the Fos Cavaou LNG Terminal in southern France.
Eni, Shell and TotalEnergies are all minority shareholders in the various LNG production trains of the North Field expansion project.
Earlier this month, Qatar broke ground on the world's largest LNG project, the North Field expansion project, which will increase the small Gulf country's export capacity by 48 million tonnes per year (mmtpa) by 2027.
Thanks to our Telegram channel you can stay updated on the publication of new Economic Scenarios articles.
The article ENI also concludes agreements with Qatar to purchase gas for 27 years comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/anche-eni-conclude-accordi-con-il-qatar-per-acqustare-gas-per-27-anni/ on Tue, 24 Oct 2023 06:00:25 +0000.