LNG

Italian oil and gas major Eni and the Swiss-based commodity trading house Mercuria have agreed to form a joint venture to oversee trading activities of oil, LNG, LPG and associated logistics and infrastructure rights. Operations are due to begin in 2027.

Woodside is considering using its pre-emptive rights to veto Inpex’s farm-in to the Browse joint venture, as this move threatens to undermine feedgas supply for its North-West Shelf LNG export terminal. The deal is seen as a catalyst to shift Browse gas production away from the NWS LNG hub towards Inpex’s Ichthys LNG train in Darwin.

Technip Energies, together with Japan Gasoline Co. (JGC) and Samsung Heavy Industries, has secured an engineering, procurement, construction and commissioning (EPCC) contract for the Coral Norte floating LNG project off Mozambique. The contract was awarded by Mozambique Rovuma Venture, a joint venture comprising Eni, ExxonMobil and China’ CNPC.

TotalEnergies EP Nigeria has agreed to sell its 10 percent stake in Renaissance JV licenses to Vaaris Marine but retains its economic ties to blocks supplying feedgas to Nigeria LNG export terminal. The move signals majors are still committed to Nigerian LNG cash flows.

Eni seeks to launch its gas joint venture with Petronas in 2026 to develop gas fields in Malaysia and Indonesia with a view to becoming a regional LNG player. Petronas brings the Bintulu LNG complex and FLNG assets in Malaysia, while Eni seeks to channel upstream gas production into its JV partner’s expanding LNG supply chains.