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Eni SpA signed a 27-year liquefied natural gas deal with QatarEnergy, marking the Gulf nation’s third major contract with a European firm this month.
Starting in 2026, a joint venture between the Middle Eastern company and Eni will deliver as much as 1.5 billion cubic meters of LNG per year to a floating import terminal located in Piombino, Italy. Earlier this month, TotalEnergies SE and Shell Plc — also investors in Qatar’s LNG expansion — signed similar contracts.
European firms are locking in some of the longest and biggest LNG supply deals as the continent prepares for its second winter after Russia cut its supply of pipeline gas. The decades-long deals preferred by Qatar — which vies with the US and Australia as the world’s top LNG supplier — have become more attractive after Europe was forced to prioritize security of supply.
At the same time, they raise questions over the continent’s climate goals, with the European Union aiming for net zero emissions by 2050 as well as a phase-out of most fossil fuels.
