Eni and Petronas are set to create a major gas joint venture in Southeast Asia by 2025, combining assets in Malaysia and Indonesia to produce up to 500,000 barrels of oil equivalent per day. The partnership aims to enhance energy security in the region and create jobs and infrastructure.

Eni plans to launch the venture next year, focusing on expanding its LNG business to have gas account for 60% of its hydrocarbon production by 2030. Additionally, Eni is progressing with its Vaca Muerta LNG project in Argentina, aiming for exports to start between late 2029 and early 2030.

The collaboration between Petronas and Eni aligns with a series of new deals in Southeast Asia, including Petronas’ partnerships with TotalEnergies to explore Malaysian offshore gas blocks with over 4 trillion cubic feet of reserves. Malaysia is reinforcing its position as a key gas hub in Asia, supported by Eni’s growing presence in the region.

Read more at Yahoo Finance: Eni and Petronas Target 2026 Launch for Southeast Asia Gas Venture