Italy's Eni, Congo Republic Sign LNG Deal

Italy and the Republic of Congo signed an accord to increase natural gas production, exports and future LNG shipments in the West African country on Thursday.

The agreement allows for the acceleration and increase of gas production in Congo, primarily through the development of an LNG project, with start-up expected in 2023 and a capacity of over 3 million tons per year (over 4.5 billion cubic meters per year) once fully operational.

According to Italian company Eni's report, the letter of intent to increase gas production and exports 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, the Italian Minister for Ecological Transition Roberto Cingolani, the Minister of Hydrocarbons of the Republic of Congo Bruno Jean Richard Itoua and the CEO of Eni Claudio Descalzi.

The new LNG project would allow Congo to expand its gas production to the extent that it would exceed its 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.

These initiatives focus on renewable energy in particular, as well as 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, and 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. It currently supplies gas to the Congo Power Plant, which guarantees 70% of the country's electricity production.

Eni has been present in Congo for over 50 years. -