eni's environmental plan is looking for a 5 year (which will then turn into a 10 year etc) exemption to pump some 2.7 tcf of raw CO2 directly into the atmosphere. by way of context, the current darwin pipeline and DLNG plan were built to service the baya undan discovery which is less than 2tcf of gas. so pumping 2.7tcf of raw CO2 directly into the atmosphere is a staggering amount of global warming....
i have not forgotten that eni has publicly stated that the gas from ES is for international (i.e. Chinese) markets. no point in piping the gas all that way to DLNG to only export.
ENI and partners had to put a market plan to government to retain ES - the pie in the sky strategic gas security plan may have been one of several (of which one we know was TS via MEO). The slide does say DLNG and "OTHERS"....
Adl
MEO Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
