Eni maps LNG growth across value chain

Eni’s 2026-2030 capital markets update places LNG within an upstream-to-market sequence that starts with exploration and development, moves through floating liquefaction and new project approvals, and ends with earnings from gas and LNG activities.

In the document, Eni said, “Oil and gas remain the cornerstone of our strategy”.

Upstream, Eni said it has discovered more than 11Bn barrels of oil equivalent (boe) since 2014, including 900M boe in 2025, and said its current portfolio of development and predevelopment projects is expected to account for 850,000 boe per day of production in 2030.

Within that portfolio, Eni said it has “notable exposure to FLNG”, which it described as a flexible and cost-efficient technology.

Reported production is expected to grow by 3%-4% a year through 2030, according to the update.

Moving further along the LNG chain, Eni said one of its project sanctions in 2026 is the approval of the North Kutei Basin developments, which will form part of the agreed joint venture with Petronas, expected to close around mid-year and to be named Searah.

Eni said this will be a leading southeast Asian E&P player, “especially in relation to the important regional LNG markets”.

Eni also expects to approve its LNG project in Argentina this year, with YPF and XRG as partners.