According to its quarterly results report released on Thursday, Eni sold 2.8 bcm (2.1 million tonnes of LNG) in the first quarter of this year.
Quarterly LNG sales rose 4 percent compared to 2.7 bcm in the first quarter last year and compared to the prior quarter.
Eni sold 9.8 bcm (7.2 million tonnes of LNG) in 2024, a rise of 2 percent compared to 9.6 bcm in 2023.
The company attributed the rise mainly due to new volumes available from Congo LNG.
In February 2024, Eni shipped the first LNG cargo from its Tango floating LNG facility moored in Congolese waters, which arrived at Snam’s FSRU-based facility in Piombino.
Belgium’s Exmar said in February 2025 that Eni’s Tango FLNG is producing LNG above the guaranteed levels of 0.6 mtpa.
In the first quarter of this year, Eni’s natural gas sales were 12.12 bcm, a decrease of 22 percent from the comparative period due to lower volumes sold in Italy in the wholesales segment, according to the firm.
Eni said reduced sales were registered also in the European market, down by 22 percent year-on-year, mainly in Turkey partly offset by higher sales in Benelux, France, and the UK.
Earnings
Eni’s global gas and LNG business reported a proforma adjusted Ebit of 310 million euros ($352 million) in the first quarter due to “continuing value maximization from the gas and LNG portfolio.”
“The result was substantially in line with the same period of 2024,” Eni said.
“Q1 ’25 adjusted Ebit of subsidiaries benefitted from a reclassification to income taxes of certain operating items settled by the JV SeaCorridor on behalf of the shipper and comprised into the transport tariff,” the firm said.
Overall, Eni reported proforma adjusted Ebit of 3.6 billion euros in the first quarter, down by 11 percent year-on-year.
Eni attributed the decline to a decline in Brent prices.
Adjusted net profit was 1.4 billion euros, a drop of 11 percent year-on-year.
