Eni accelerates on development projects in the Middle East and, in the midst of the gas crisis, increases the strategy of diversifying the sources of energy supply for Italy. In Abu Dhabi, the Minister of Industry and Advanced Technology of the United Arab Emirates and General Manager and CEO of the National Oil Company of Abu Dhabi (ADNOC), Sultan Ahmed Al Jaber, met with Eni’s number one, Claudio Descalzi ” to discuss the progress of future project activities and the acceleration of Ghasha’s multi-billion dollar project. It is estimated that this field contains significant volumes of recoverable gas and could produce over 42.5 million cubic meters per day, over 120,000 barrels of oil and condensates ».
The meeting discussed “the progress of the company’s activities in the Emirate, future projects and areas of common interest and collaboration, with the aim of accelerating existing development projects and the time-to-market of new discoveries exploration and international activities, in line with the common decarbonisation strategy and to contribute to greater gas supplies worldwide ».
The CEO of Eni also illustrated the fast-track development options for the recent gas discovery in the first exploration well drilled in Block 2 offshore Abu Dhabi, leveraging other projects currently in progress and using Adnoc infrastructure. to optimize costs and accelerate common production goals. Eni holds a 70% stake and is the Operator of Block 2, while the partner Pttep holds the remaining 30%. In recent months, Eni has always been at the center of the Italian effort to replace Russian gas. Descalzi accompanied the premier and the ministers of Foreign Affairs and Ecological Transition, in the numerous missions around the world. All in countries where the six-legged dog already works, has implants, and knows how to move. In early March, Luigi Di Maio and Descalzi flew to Qatar. From the emirate and Egypt an additional 3 billion of liquefied natural gas will arrive by ship by 2022, which will become 5 in 2023. Eni will also participate in the exploitation of the North Field gas field, the largest in the world. After Qatar, Di Maio and Descalzi also went to Mozambique, where they signed an agreement to start importing methane extracted from Eni. An understanding consolidated a few weeks ago by the visit to Maputo of President Sergio Mattarella. In early April, Di Maio flew to Azerbaijan. Here he cashed in on Baku’s pledge to increase natural gas supplies by over 2.5 billion cubic meters. A total of 9.5 billion will arrive from the Asian country this year alone. The EU commission and Baku are also working for a long-term alliance on clean energy and energy efficiency.
At the end of April, an agreement was finally reached thanks to which 4.5 billion cubic meters of LNG will arrive from Congo by 2024, while Angola will increase its supply. All these new supplies are expected to replace 50% of Russian gas as early as 2023, to replace it completely in the second half of 2024.