By Stephen Nakrosis

Italian energy company Eni signed a Memorandum of Understanding with the government of Libya which will see the company study and identify opportunities to reduce greenhouse gas emissions and develop sustainable energy.

The agreement will see Eni work to reduce CO2 emissions by reducing routine gas flaring, fugitive emissions and venting, along with other possible projects.

Eni will also examine new solutions to develop renewable energy and initiatives for electricity efficiency.

Eni also said it will work to identify additional gas resources from existing fields, "to be developed as part of an integrated project for the domestic market and potentially for export."

Eni said it is the leading international gas producer in Libya, "with a share of 80% of the national production." In Jan., the company and the National Oil Corp. of Libya said they were launching the "Structures A&E" project, which will develop two gas fields offshore Libya and construct a carbon capture and storage facility.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

June 07, 2023 14:22 ET (18:22 GMT)

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