GULF Partners with Italian Energy Company Eni to Sign LNG Purchase Agreement Aligned with National Natural Gas Procurement Plan

GULF partners with the Italian energy company Eni to sign an LNG purchase agreement aligned with the national natural gas procurement plan, strengthening the country's energy security.

On 4 Dec 2025 GMT+7, Gulf Development Public Company Limited (GULF), led by CEO Sarath Ratanavadi, signed a Liquefied Natural Gas Sale and Purchase Agreement with Eni S.p.A. (Eni). Eni is listed on the Italian stock exchange, with the Italian government as a major shareholder, has a market capitalization of about 50 billion euros, and is one of the world's leading energy groups. It has extensive experience in integrated energy businesses across various regions worldwide, covering crude oil and natural gas exploration and production, refining and petroleum product distribution, LNG trading, power generation, as well as renewable energy development and energy transition solutions.

This agreement covers the import of liquefied natural gas for sale to power plants within the GULF group for a 10-year period, with a volume not exceeding 0.8 million tons per year. Deliveries will begin in January 2027. Christian Signoretto, Eni's Managing Director of Natural Gas and LNG Business, also signed the agreement.

Previously, the GULF group obtained a Liquefied Natural Gas Shipper License from the Energy Regulatory Commission (ERC) permitting up to 7.8 million tons per year. This license enables them to use LNG as fuel for electricity generation within the group. GULF has been importing LNG since 2024.

The LNG procurement agreement between GULF and Eni aligns with the country's natural gas procurement plan, helping diversify LNG import sources, stabilize prices and supply volumes, and strengthen the country's long-term energy security. This supports the overall economic stability and growth of the nation.