Eni targets LNG portfolio expansion

The Italian oil and gas firm is aiming to grow despite a challenging market

Eni is looking to further expand its global LNG portfolio and is looking optimistically at the opportunities presented by the sector—despite concerns about a supply glut as new projects continue to arrive and ramp up to plateau output. Development of Eni’s LNG portfolio is progressing at a faster speed than previously forecast, Franco Magnani, Eni’s executive vice president, gas business unit, told Petroleum Economist on the sidelines of the European Annual Gas Conference (EAGC) in Paris. “We are in a context of strong demand but also of many LNG [export] projects coming on stream,” says Magnani. While this poses challenges, “this is not a new situation for the sector”. “LNG has always been