LNG

Italian energy company Eni, with an excellent success record with major gas discoveries offshore Egypt and Mozambique, has teamed up with Thailand’s national energy company PTTEP to sign a concession agreement for the acquisition of exploration Block 3 offshore LNG producer Abu Dhabi in the United Arab Emirates.

The Abu Dhabi Supreme Petroleum Council (SPC) has approved 448 billion dirhams ($122 billion) in capital expenditure for national oil and gas company and LNG exporter Abu Dhabi National Oil Co. (Adnoc) through 2025 as it also pursues growing joint ventures, especially in unconventional natural gas to make the United Arab Emirates self sufficient.