Italy's ENI to deliver carbon neutral LNG cargo to Taiwan's CPC
Italian energy group Eni has reached an agreement with Taiwan's CPC Corporation for the delivery of a carbon-neutral LNG cargo to CPC Corporation at the Yung An receiving terminal in Taiwan.
The LNG will be sourced from the Bontang liquefaction terminal in Indonesia as part of Eni's contract with Eni Muara Bakau B.V., a joint venture operated by Eni which owns and operates the Jangkrik gas field, the company said in the release.
"As part of the transaction, the overall GHG (greenhouse gas) emissions related to the entire value chain of the LNG cargo, including gas production, transmission, liquefaction, shipping, regasification, distribution and end use, will be offset through the retirement of high-quality, nature-based credits," it said.
The cargo will be certified as carbon neutral according to the internationally recognised 'PAS 2060' standard, Eni added.
The agreement is part of Eni's decarbonisation strategy under which it aims to achieve full carbon neutrality in its products and operations by 2050.
Eni, which makes most of its earnings from oil and gas, plans to reach that goal through more output from bio-refineries, higher renewable capacity, forestry initiatives, carbon capture and other projects.
(Reporting by Rahul Paswan in Bengaluru; editing by Jason Neely)
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