SEATTLE (Oil Monster): A Memorandum of Cooperation (MoC) has been inked by the Italian oil corporation Eni s.p.A. and the Japan Organization for Metals and oil Security (JOGMEC). The MoC was signed and made public at the recent LNG Producer-Consumer Conference 2024 in Hiroshima, Japan. The goal of the new partnership is to highlight LNG and gas's contribution to carbon neutrality.
The partnership will increase coordination in bolstering gas security. Additionally, it will facilitate the diversification of LNG acquisition and delivery. Eni will have the opportunity to supply LNG to Japan through the collaboration, as the country is a net importer of LNG. As per data, Japan bought 94.8 billion cubic metres of LNG between 2020 and 2022.
The Japanese Ministry of Economy, Trade, and Industry has recommended that JOGMEC expedite its procurement of fuel for power generating and liquefied natural gas for city gas production.
Eni has also joined the CLEAN Initiative, a coalition for LNG emission abatement toward net zero, which aims to evaluate international LNG projects and exchange knowledge and expertise on industry best practices to cut emissions along the whole value chain.
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