Italian energy company Eni is in talks with Japan about supplying liquefied natural gas (LNG) to the country, Cristian Signoretto, Eni’s director for the global gas and LNG portfolio, told reporters on the sidelines of a conference on Sunday.
“We are already trading with Japanese buyers on a short-term basis and we would like to extend that cooperation to a long-term basis,” Signoretto said, adding that Eni plans to commercialize more LNG volumes, including from Indonesia. and also wants Japanese financial institutions to support some projects.
Eni plans to expand its LNG portfolio to 18 million tonnes per year by 2027 and would be willing to commit some of that to Japan if the opportunity arises, he added.
Signoretto said it was too early to comment on the details of the talks, including whether Eni would insist on destination clauses, which are obligations in contracts for the buyer not to resell the gas to third parties.
In recent years, there has been a growing demand among Japanese buyers for shorter-term deals without destination clauses, as this allows buyers in Japan, the world’s second-largest LNG importer, to remain flexible and also resell LNG.
“Flexibility will be part of the discussion,” Signoretto said, without giving details.
