Eni Launches $8 Billion Gas Project in Libya
January 30 2023 - 1:50AM
Dow Jones News
By Adria Calatayud
Eni SpA has launched a new natural-gas project in Libya to
supply the domestic market and ensure exports to Europe, with an
overall estimated investment of $8 billion and production slated to
start in 2026.
The Italian energy company said Saturday that production from
the project called "Structures A&E," which consists of two gas
fields, is expected to reach a plateau of 750 million standard gas
cubic feet a day.
Eni said the project includes the construction of a carbon
capture and storage facility at the existing Mellitah complex in
Libya aimed at reducing significantly its carbon footprint.
Eni separately said Sunday that it and TotalEnergies SE have
completed the transfer to QatarEnergy of a 30% interest in two
exploration blocks off the coast of Lebanon. Following the
transfer, operator TotalEnergies and Eni will each retain a 35%
interest in the blocks, with QatarEnergy holding the remaining 30%,
Eni and TotalEnergies said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
January 30, 2023 01:35 ET (06:35 GMT)
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