Eni Set To Increase Gas Production, Export From Congo
Italian energy major Eni has signed an agreement with the authorities of the Republic of Congo to increase gas production and export from the country.
The Minister of Hydrocarbons of the Republic of Congo Bruno Jean Richard Itoua and the chief executive of Eni Claudio Descalzi signed a letter of intent in Brazzaville to increase gas production and export.
The agreement was signed in the presence of the Minister of Foreign Affairs of the Republic of Congo Jean-Claude Gakosso, the Italian Minister of Foreign Affairs Luigi di Maio, and the Italian Minister for Ecological Transition Roberto Cingolani.
Following the signature, a meeting was held with the President of the Republic of Congo Denis Sassou Nguesso.
The agreement provides for the acceleration and increase of gas production in Congo, primarily through the development of an LNG project with a start-up expected in 2023 and a capacity of over 3 million tons per year once fully operational. LNG exports will allow valorizing the production of gas that exceeds Congo’s internal market needs.
The Republic of Congo and Eni have also agreed to define initiatives to promote decarbonization and sustainable energy transition in the country.
The focus will be put on the areas of renewable energy, the development of an agricultural supply chain to produce feedstock for biorefining without competing with the food chain, the conservation and sustainable management of forests, the adoption of clean cooking systems, the capture, use, and storage of CO2.
Currently, Eni is the only company committed to developing the huge gas resources of the Republic of Congo where it has been present for over 50 years. It currently supplies gas to the Congo Power Plant which guarantees 70 percent of the country's electricity production.
In recent African endeavors, Eni agreed to increase gas production and supply from Egypt and penned a deal with Algeria’s Sonatrach to increase the quantities of gas imported through the TransMed / Enrico Mattei pipeline.
As for exploration, Eni recently made new oil and gas discoveries in the Meleiha concessions in Egypt’s Western Desert, for approximately 8,500 barrels per day of oil equivalent.
Angola was also an African country of great interest for Eni as it created a new independent company named Azule Energy through the combination of its Angolan business with BP’s subsidiary in the country.
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