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Eni announces 500th cargo from Egypt LNG facility

Source:  Update:2023-02-07 20:35:37 Author:  Browse:258

Italian energy specialist Eni has announced that the Damietta liquefied natural gas (LNG) facility in Egypt has successfully produced and loaded its 500th LNG cargo from start-up of operations in 2005.

Having exported 7.2 million tonnes of LNG since its restart in 2021, the facility produced and exported around four million tonnes of LNG in 2022 alone, the largest volume in its almost 20-year history.

Operated through a joint venture between Eni and Egas, the Damietta plant aligns with Eni’s energy security and sustainability strategy, which aims to leveraging its global upstream and partnerships with producing countries to find alternative and additional supply opportunities for Europe.

It also aims to accelerate the company’s decarbonisation targets by offering decarbonised services and products to clients to tackle scope 3 emissions.

In 2020, Eni set absolute targets inclusive of scope 3 emissions and, in 2021, set its long-term target of Net Zero emissions by 2050.

“We are bringing forward Eni’s Net Zero scope 1+2 emissions by 2035 and setting a new intermediate target of -40% by 2025,” said the company in its strategy.

In addition to its LNG services, the company is taking part in carbon capture and storage (CCS) projects to support hard-to-abate emissions reduction.

Referencing Europe’s ongoing energy crisis, Claudio Descalzi, CEO of Eni, said, “Our immediate response to the current crisis has been to leverage our established alliances with producing countries to find replacement energy sources for Europe’s energy needs.”

“This complements our work to develop new decarbonised products and services which can help deliver both energy security and carbon reduction.”

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