Eni has approved major natural gas development projects in Indonesia expected to deliver 2 billion cubic feet per day of natural gas and 90,000 barrels per day of condensate when they come online in 2028. The Italian state-backed company's investment represents a significant expansion of production capacity in Southeast Asia.
The projects will substantially boost Eni's natural gas output, adding meaningful supply to regional markets at a time when energy security concerns are heightened. The 2 billion cubic feet per day represents a notable increase in liquefied natural gas potential for Asian markets, where demand continues to grow.
The Indonesia developments come as energy infrastructure investments face increased scrutiny amid geopolitical tensions. Eni's commitment to the 2028 timeline suggests confidence in long-term Asian gas demand despite current market volatility and regional security concerns affecting energy trade routes.
Meanwhile, Iran's oil exports have maintained resilience despite ongoing Middle East conflicts, with Tehran continuing to ship crude through the Strait of Hormuz while issuing threats to regional competitors. According to data from Kpler cited by Bloomberg, Iran's crude exports have averaged around 1.2 million barrels per day since March 1.
China, the world's largest crude importer, is reportedly positioned to tap its vast commercial oil reserves as Middle East tensions persist, according to FGE NexantECA, highlighting how major consumers are preparing for potential supply disruptions.