Eni Secures 10-Year LNG Deal With Thailand’s Gulf Development Company

Eni has strengthened its push into Asian LNG markets with a new 10-year sales agreement that will deliver 0.8 million tons per annum of LNG to Thailand’s Gulf Development Company. Deliveries will begin in 2027 through Thai regasification terminals, cementing a stable supply relationship with one of the country’s largest private power producers.

The deal builds on a smaller two-year arrangement struck in 2024 for 0.5 MTPA starting in 2025, reflecting Gulf’s rising demand for imported gas as Thailand seeks to offset declining domestic production and ensure reliable fuel supply for its power sector. For Eni, the agreement underscores a strategic effort to broaden its LNG customer base and secure long-duration offtake in high-growth Asian markets.

The contract is also a notable milestone for Eni: its first long-term LNG supply into Thailand, a market increasingly dependent on seaborne LNG due to structural declines in the Gulf of Thailand’s gas output and a regional pivot toward flexible imports. The company aims to scale its global LNG portfolio to roughly 20 MTPA by 2030, anchored by upstream and liquefaction projects across Congo, Mozambique, the United States, Indonesia, and other assets coming online this decade.

The move follows a string of recent supply deals in Asia and the Mediterranean, signaling that Eni is accelerating the commercial buildout of its LNG marketing arm at a time when buyers across Asia are seeking to lock in volumes amid tightening forward balances.

By Charles Kennedy for Oilprice.com

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