ENI Signs Deal with Nigeria LNG

Italian oil and gas firm, ENI, has signed a ten years gas supply deal with the Nigeria LNG (NLNG) to purchase 1.5 million tonnes (Mt) of liquefied natural gas (LNG).

Although the terms & condition of the deal is yet to be disclosed the new cooperation calls for massive output in the oil and gas sector.

Nigeria LNG is a joint venture between Nigerian National Petroleum Corporation (NNPC), ENI, Shell and Total with ENI holding a participating 10.4% interest, NNPC 49%, Shell 25.6% and total 15% respectively.

Also, ENI who added that its local affiliate NAOC was inclined with gas and oil supply to NLNG, said that the liquefied natural gas would be produced through existing first, second and third trains at Bonny Island, Nigeria.

While addressing the press, ENI said: “The deal, together with the one for 1.1Mt of LNG executed last December between Eni and NLNG, allows ENI to increase its global LNG portfolio starting from 2021 and to support further the development of its presence in the main destination markets worldwide.”

Eni further disclosed that the discovery of gas and condensate in the Mahani exploration prospect located onshore in the Area B Concession of UAE Sharjah Emirate.

The new natural gas and condensate field has flow rates of up to 50 million standard cubic feet per day (Mscf/d).

ENI added that it holds a 50% stake in the Concession Area B, with SNOC the National Oil Company of Sharjah holding the remaining 50% stake and acting as operator.