Italian oil and gas company Eni signed an energy and LNG sector cooperation MoU with Korea Gas Corporation.
The memorandum of understanding was signed by Eni CEO Claudio Descalzi and KOGAS president and CEO Hee-bong Chae.
Under the agreement, the companies aim to identify specific cooperation opportunities in different areas such as exploration and production projects, LNG projects, downstream and infrastructure projects and in particular circular economy and low-carbon energy projects.
The two companies have been cooperating in exploration and production business over the past decade in Africa, Middle East, South-East Asia and Mediterranean.
In particular, the Mozambique Area 4 project and the Iraq Zubair project are representative example of success cooperative relationship between two companies.
“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”, said Hee-bong Chae.