Eni to expand LNG trading presence in Asia

Italy’s Eni is looking to market more LNG supplies from the company’s projects in development such as Mozambique to Asian buyers from its Singapore trading desk. 

The decision was made following the integration of the company’s LNG business with the upstream unit, Eni Trading and Shipping CEO, Franco Magnani told Reuters.

He noted that Eni is looking to build an LNG portfolio which will require a stronger involvement in the Asian market.

The company is exporting liquefied natural gas from its Jangkrik field in Indonesia through the Bontang LNG plant, while exports from its Coral South FLNG project off Mozambique is expected to start up in 2022.

LNG exports from Egypt where production from the giant Zohr gas field is expected to start in December, could also be possible at a later stage, Magnani said.

Spot LNG prices in Asia rose to about $7 per million British thermal units with demand in China and South Asia climbing.

LNG World News Staff