How Eni will gas in China
What will Eni do in China with the company Zhejiang Energy in the gas and liquefied natural gas sector
Eni looks to China. The Six-legged Dog has started a collaboration in the gas and liquefied natural gas sector with the Chinese Zhejiang Energy.
The company led by the managing director Claudio Descalzi has been present in Beijing since 1984. All the details.
THE MEMORANDUM BETWEEN ENI AND ZHEJIANG ENERGY
Eni has signed a Memorandum of Understanding (MoU) with the Chinese company Zhejiang Energy with the aim of starting strategic cooperation in the energy sector and, in particular, in the gas and LNG sector.
WHAT THE TWO COMPANIES WILL DO
The companies will launch sector initiatives in China and internationally with the aim of encouraging the transition from coal to gas in the production of electricity, to reduce emissions. The two groups will sign a long-term LNG supply agreement and jointly participate in sector projects.
ANOTHER STEP IN THE ENERGY TRANSITION
For Eni, the company explains, “the MoU represents a further step forward in the energy transition process”: the six-legged dog will reach carbon neutrality by 2050, in all its operations.
Producing electricity from gas, rather than coal, reduces the greenhouse gas emissions of a power plant by up to half, offering immediate progress in decarbonising the sector.
THE PRESENCE OF ENI IN CHINA
Eni has been present in China since 1984 and has recently set up a new representative office in Beijing. The company, in the Land of the Dragon, is active in the Exploration & Production, Gas & Power and Refining & Marketing and Chemicals sectors. In China, Eni produced 1 million barrels of oil in 2019 and a production of hydrocarbons equal to 1 million barrels equivalent.
EXPLORATION ACTIVITIES
On the exploration front, Eni in China concentrates its operations in the southern offshore of the country, as per the Production Sharing Agreement (PSA). The company, the website reads , offers the means for the extraction of oil destined for the domestic market and gas, which is transferred via an underwater pipeline, and we sell the entire supply to the state company China National Offshore Oil Cooperation
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/come-si-gasera-eni-in-cina/ on Wed, 31 Mar 2021 10:16:45 +0000.