Eni's Chief Executive Officer, Claudio Descalzi, and Korea Gas Corporation's Chairman and Chief Executive Officer, Hee-bong Chae, today signed a Memorandum of Understranding to identify specific cooperation opportunities in different areas, which they include exploration and production projects, LNG, downstream and infrastructure projects and in particular circular economy projects and low CO2 energy production.
The two companies have been collaborating for ten years in exploration and production activities in Africa, the Middle East, Southeast Asia and the Mediterranean. In particular, the Area 4 project in Mozambique and the Zubair project in Iraq are representative examples of successful cooperations between two companies.
“By signing this memorandum of understanding with Eni, we shared the strong will of both companies to guide the era of low CO2 emissions energy while respecting the environment. Our solid relationships can lay the foundations for the activities of the new energy era with the aim of replicating the successes achieved in Mozambique and Iraq, "said Hee-bong Chae, CEO and President of Korea Gas Corporation.
Claudio Descalzi, Eni's CEO, said: “Eni wants to take a decisive role in the energy transition process towards a low carbon footprint future and this collaboration is in line with the direction we want to follow to ensure sustainable growth. This memorandum of understanding is part of our culture based on integration, efficiency and constant attention to technological innovation and research, characteristics that have enabled Eni to improve resources in various aspects. "