Aug 6, 2021

CPC Corporation, Taiwan will Deliver LNG cargo for Eni

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Eni
CPC
emissions
Eni has come to an agreement with CPC Corporation for delivery of carbon-neutral Liquefied Natural Gas, which is offset by nature-based credits

With maritime transport accounting for the annual production of around 940 million, it makes up around 2.5% of global greenhouse gas emissions. Although a small percentage, offsetting this source of carbon will increase the likelihood of overall net-zero emissions. Eni Energy has agreed on a delivery contract with CPC Corporation, a Taiwan shipping company, for its carbon-neutral liquefied natural gas (LNG).

Eni will source the LNG from the Bontang liquefaction terminal in Indonesia, which is support its contract with Eni Muara Bakau BV—an Eni-operated joint venture that oversees the operation of the Jangkrik gas field. The overall emissions of the LNG value chain will be offset through nature-based credits as a result of schemes, including two REDD+ projects certified by Verra**: Luangwa Community Forest project in Zambia and Kulera Landscape REDD+ project in Malawi. The emissions offset will span across gas production, transmission, liquefaction, shipping, regasification, distribution and end-use—allowing compliance to the internationally recognised PAS2060* standard for carbon-neutrality. 

Moving Forward with Energy Decarbonisation

Not only will this strategy add value to Eni’s LNG, but it will also provide a positive contribution to the decarbonisation of the supply chain. The long-term strategy for Eni is to achieve a fully carbon-neutral value chain for its products by 2050, which it will achieve through the incremental increase of its emissions targets—a 25% target by 2030 that will increase to 65% before 2040. These targets apply to emissions Scopes 1, 2 and 3. 

Eni will utilise a proprietary method to calculate the greenhouse gas emissions of the LNG cargo, which will follow a comprehensive approach that analyses the lifecycle, giving an emissions figure for each product sold. 


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