Wedoany.com Report-Oct. 14, Eni’s global natural resources chief operating officer, Guido Brusco, said on Monday that the company aims to launch its gas joint venture with Malaysia’s Petronas next year. Speaking at an industry conference in London, Brusco confirmed that preparations for the project are advancing, with both companies targeting the development of gas assets in Malaysia and Indonesia. The exact start date will depend on regulatory approvals, as Petronas previously noted that the process could take one to two years.

The logo of Italian Eni energy company is seen at a Agip gas station in Lugano, Switzerland, June 3, 2016.

According to Brusco, the joint venture is expected to produce around 300,000 barrels of oil equivalent per day (boe) initially, with plans to increase production to 500,000 boe as operations expand. The project will supply gas to both domestic and regional markets, including exports to other Asian countries. The collaboration marks a key step in Eni’s strategy to strengthen its presence in Asia and enhance the reliability of its natural gas supply network.

Brusco also said that Eni plans to begin exports from its Vaca Muerta liquefied natural gas (LNG) project in Argentina by late 2029 or early 2030. The Vaca Muerta development, a joint venture with Argentina’s YPF, is part of Eni’s broader plan to expand and diversify its LNG portfolio, focusing on long-term growth in global energy demand.

Eni expects natural gas to account for about 60% of its total hydrocarbon production by 2030. Earlier this month, the company’s CEO said Eni aims to secure 20 million metric tonnes per annum (MTPA) of contracted LNG capacity by 2029–2030, up from 13 MTPA in 2024. The expansion reflects Eni’s goal to reach new markets and increase flexibility in its energy supply chain amid growing demand for cleaner energy sources.

The joint venture with Petronas aligns with Eni’s strategy to strengthen its upstream gas operations while supporting energy transition objectives. By combining Eni’s global expertise with Petronas’ regional experience, the project aims to ensure stable production and contribute to energy security in Southeast Asia.

Both the Malaysia–Indonesia joint venture and the Vaca Muerta LNG project form part of Eni’s efforts to establish a stronger presence in key gas-producing regions and reinforce its export capabilities. The company views natural gas and LNG as essential to meeting global energy needs while supporting carbon reduction goals.

Eni’s latest developments underline its commitment to building a diversified and resilient LNG portfolio through international partnerships and long-term investment in gas infrastructure. With projects across Asia and South America, the company continues to position itself as a major supplier in the global LNG market while contributing to regional energy development and market stability.