Our commitment to a low-carbon future and sustaining a new paradigm for energy is based on the use of gas.
Natural gas comprises a mixture of gas hydrocarbons, dominated by methane. Of all fossil fuels, it has the lowest carbon impact. We aim to combine sound finances with social and environmental sustainability. Our strategy is based on a decarbonization policy that relies on a low-carbon portfolio and the promotion of natural gas. In the long term, we are trusting in the strength and resilience of the former, in which gas will have an ever-increasing part to play.
Natural gas will be crucial to reduce global warming. The course we are pursuing involves combining natural gas and renewables with the aim of eliminating the use of more polluting fossil sources – such as carbon. Our projects in Egypt, Mozambique, Ghana and Indonesia confirm our commitment to this course of action. Our gas development projects are of a conventional nature; the most resilient in a low-carbon scenario.
Located in Egyptian territorial waters in the Mediterranean sea, Zohr is the biggest offshore deposit of natural gas in the world. Discovered in 2015, it has the potential for gas resources equal to 850bn m3 and 5.5bn barrels of oil equivalent. The Zohr field, which came on stream in December 2017, will meet the natural gas needs of Egypt over the decades to come. It is one of Eni's seven record projects, in which the common factor is extremely fast development and production.
The Offshore Cape Three Points (OCTP) project is making an important contribution to energy access in Ghana. In May 2017, we brought into production our Integrated Oil & Gas Development Project off the coast of Ghana. The work took just two-and-a-half years and was completed three months ahead of schedule. A time-to-market record. Back in January 2015, we signed an agreement with the Ghanaian authorities for the development of this integrated oil and gas project to provide the energy necessary to power the country’s economic growth – including the development of gas fields, whose product would be destined entirely for the domestic market. In 2018, we expect to begin producing gas from our Offshore Cape Three Points (OCTP) development, which will supply domestically produced gas to Ghana's power stations for at least 15 years, meeting energy demands in the urban and rural areas where it is most needed.
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