Italy’s Eni and China’s Zhejiang Energy signed a Memorandum of Understanding (MoU) on strategic cooperation across the gas and LNG value chain in China and internationally.

Illustration only; Courtesy of Eni
 

The MoU establishes a cooperation framework and builds on the companies’ shared goal of promoting emissions reduction by favoring a switch from coal to gas in the production of electricity.

This reduces by as much as half the greenhouse gas (ghg) emissions of a power plant, which represents a significant immediate step forward in decarbonizing the sector.

The agreement identified the initiatives that range from developing long-term LNG supply agreements to joint participation in gas and LNG projects.

Eni, recently establishing a new representative office in Beijing, has been present in China since 1984.

This MoU is Eni’s step forward in the energy transition process. The company has launched a new strategy for carbon neutrality by 2050 in all its operations, processes and products. Gas is to represent more than 90 per cent of Eni’s production.

March 30, 2021, by Sanja Pekic