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Italy's Eni will deliver a carbon-neutral LNG cargo to Taiwan's CPC

Eni's long-term strategy aims to achieve full carbon neutrality in its products and operations by 2050

Italy's Eni will deliver a carbon-neutral LNG cargo to Taiwan's CPC

Rome, August 6 - Neftegaz.RU. Eni said today it reached an agreement to deliver an LNG cargo to Taiwan that has been certified as carbon neutral.
The company will send the LNG from the Bontang terminal in Indonesia to CPC Corp in Taiwan via the Yung Ang receiving terminal on the island.

The cargo will be offset through the retirement of nature-based credits.
Specifically, these credits are sourced from two REDD+ projects.
One project is from in Zambia and the other one is in Malawi.

Additionally, the cargo will be certified as carbon-neutral according to the international PAS2060 standard.
The company said in a statement:
  • This is a milestone transaction for Eni, which shows how the company is moving forward in its decarbonization strategy while creating value for its LNG portfolio through own equity projects
  • Eni’s long-term strategy aims to achieve full carbon neutrality in its products and operations by 2050, with intermediate reduction targets of Net Lifecycle GHG Emissions of 25% by 2030 and 65% by 2040 vs. 2018
Taiwan, for its part, is shifting away from nuclear energy and sees natural gas as part of a low-carbon future.
CPC mandated a 50% share for natural gas for Taiwan’s electricity generation by 2024.

To read the news in Russian

Source : Neftegaz.RU


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