Eni Signs Mid-Term Agreement for the Sale of LNG to Japan and South Korea

Agreement to sell 28 LNG cargoes over the period 2013-2017

San Donato Milanese (Milan), - Eni has signed a tripartite agreement with Korea Gas Corporation and Chubu Electric Power Company for the sale of 28 cargoes of LNG (or 1,7 Mton of LNG) over the period 2013-2017.

Under this agreement, which is the first joint purchase contract between Japan and South Korea, Eni will source the cargoes from its global LNG portfolio and ship them either to South Korea or Japan according to the two clients’ allocation needs, increasing the flexibility and security of supply of their respective sourcing portfolios.

The agreement, which follows the one signed last year for the sale of 49 cargoes of LNG (equivalent to 3,3 Mton of LNG) to the Japanese market, will strengthen Eni’s presence in the Far East LNG market.