Eni offloads first LNG cargo from new Italian regassification terminal

World Oil Staff May 08, 2023

(WO) – Eni has begun offloading the first LNG cargo into Snam’s new regasification terminal in Piombino, in the presence of the Minister of the Environment and Energy Security, Gilberto Pichetto Fratin. The terminal has a total processing capacity of 5 Bcm per year, or approximately 7% of Italy's gas demand. The LNG was produced at Egypt’s Damietta liquefaction plant, one of the facilities where Eni has invested with the goal of growing its integrated liquefied gas portfolio.

Eni acquired regasification capacity at Piombino terminal as part of its strategy to diversify LNG supplies to Italy through its internationally produced equity gas. Leveraging its strong relations with the countries where it operates and its trademark fast-track project development approach, Eni has increased the volumes of available gas from Algeria, Libya and Italy and increased the number of LNG cargoes from Egypt, Congo, Qatar, Angola, Nigeria, Indonesia and Mozambique.

Eni will be able to guarantee gas supplies to its customers through a more diversified portfolio. Contracted LNG is expected to exceed 18 MTPA by 2026, twice as much as in 2022, confirming LNG’s role as a reliable energy source in support of security of supply and the energy transition.

Piombino’s new regasification capacity will help implement Eni's plan to completely replace Russian gas by 2024-2025 and increase the availability of gas for the country, with potential benefits in terms of prices and competitiveness of Italy’s industrial and economic system.

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