https://www.copyright link/street-talk/eni-retreats-from-australian-gas-...

https://www.copyright link/street-t...hires-citi-for-portfolio-sale-20200512-p54s1q

AFR Street talk speculation also reported in other outlets (the OZ) that ENI will sell their Australian gas projects.


Global energy giant Eni is seeking a buyer for all of its Australian gas sector assets, including its stake in ConocoPhillips' (soon to be Santos') Darwin LNG project.
Street Talk understands Eni, which is based in Italy and has offices in Perth and Darwin, has had its bankers start pitching the portfolio to Australian gas producers and gas infrastructure owners in recent days, telling them a formal sale would begin as early as this month.
It is understood the likes of APA Group and Beach Energy have been targeted, along with infrastructure funds including IFM Investors and QIC Ltd.
Sources said Eni, which is listed in Milan and has a $50 billion market capitalisation, and its bankers at Citi had pitched the portfolio as defensive in nature and said they were sheltered from global oil prices, which analysts expect to be low for months or years to come.
Up for grabs is Eni's Blacktip Gas Project and its attached Yelcherr Gas Plant, which together have a long term supply agreement with the Northern Territory's Power and Water Corporation. Eni owns and operates the project and associated infrastructure.