Eni, South Korea's Kogas Sign MoU

Italy’s Eni and Korea Gas Corporation (Kogas) have signed a memorandum of understanding (MoU) on cooperation in areas such as exploration and production, LNG projects, downstream and infrastructure projects, and in the circular economy and low-carbon energy projects, Eni said on June 11.

“By signing this MoU with Eni, we shared the strong willingness of both companies to lead the era of low-carbon and eco-friendly energy. Our strong relationship can settle the basis for a new business with the aim of the second Mozambique Area 4 and Iraq Zubair project, which represents the new energy era.” Kogas CEO Hee-bong Chae said.

The two companies have been working together in the upstream business over the past decade in Africa, the Middle East, southeast Asia, and the Mediterranean. Eni and Kogas are partners in Mozambique Area 4 project and the Iraqi Zubair project.

“As Eni wants to play a decisive role in the process of energy transition towards a low-carbon future, this collaboration is in line with the direction we want to follow to ensure sustainable growth,” Claudio Descalzi, CEO of Eni said. “This MoU fits our culture based on integration, efficiency, and a constant focus on technological innovation and research, which has allowed Eni to enhance the assets in a different way.”