BAKU, Azerbaijan, February 27. Eni delivered a solid performance in Q4 2024, with natural gas sales reaching 15.26 bcm, up 12% year-over-year (13.6 bcm in Q4 2023), Trend reports.
According to the producer, the increase was primarily driven by a 27% rise in European market sales, particularly in Benelux, France, and Türkiye, as well as higher volumes sold in Italy’s wholesale and industrial segments.
LNG sales also rose by 13% to 2.7 bcm compared to Q4 2023 (2.4 bcm), benefiting from new supply volumes from the Congo LNG project. This expansion highlights Eni's growing presence in the global LNG market, reinforcing its ability to meet rising demand amid a shifting energy landscape.
Gas prices saw a mixed trend in Q4 2024. The spot gas price at the Italian PSV hub averaged €45/MWh, a 9% decline YoY, while the TTF benchmark price increased by 6% to €43/MWh. The PSV-TTF spread narrowed to €2/MWh, reflecting more balanced supply and demand dynamics in European markets.
In the power sector, Eni's thermoelectric production increased by 9% to 5.60 TWh, supported by better optimization strategies and fewer shutdowns.