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Eni (BIT:ENI) has started commercial LNG exports from Phase 2 of the Congo LNG project.
The company has also secured a new natural gas exploration agreement in Syria.
These developments expand Eni’s LNG footprint and extend its upstream presence into another Middle Eastern market.
For investors tracking global energy supply chains, Eni (BIT:ENI) is closely tied to gas and LNG projects that link producing regions with European demand. The launch of LNG exports from Phase 2 of the Congo project adds another source of liquefied gas at a time when supply security remains a key theme for European buyers. The new Syrian exploration deal also adds to Eni’s portfolio of upstream opportunities across different geographies.
Looking ahead, readers may want to watch how output volumes from Congo LNG evolve and how quickly the Syrian exploration program progresses. Any updates on project timelines, capital spending and long term offtake contracts could influence how the market views Eni’s position within the LNG and gas value chain.
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BIT:ENI Earnings & Revenue Growth as at Feb 2026
3 things going right for Eni that this headline doesn’t cover.
For Eni, Congo LNG Phase 2 moving into commercial exports and the new Syrian gas exploration rights both point to the same theme: a heavier tilt toward gas linked to international LNG markets. The extra 3 million tonnes per year of liquefaction capacity from Congo adds more flexibility in directing cargoes between Europe and Asia, which can matter when pricing and demand differ across regions. The pace of delivery, with Phase 2 brought online in what Eni describes as record time, may also signal execution capabilities that are relevant when you think about the broader LNG project queue in places like Mozambique, Indonesia and Cyprus. The Syrian award, by contrast, is still early stage and comes with a very different risk profile, given the geopolitical backdrop and potential regulatory uncertainty, so investors might treat it more as an option than a near term volume contributor.
The Congo LNG ramp up aligns with the narrative that LNG expansion and geographic diversification can support more resilient earnings as energy transition policies and demand patterns evolve.
The move into Syrian gas acreage underscores the narrative’s point about higher geopolitical and regulatory exposure from upstream growth in more volatile regions, which could affect project timing or economics.
The specific Congo and Syria developments are not fully spelled out in the existing narrative, so investors may want to factor in how floating LNG execution and new Middle East exposure could influence future production mix and risk.