Author: Adam Whittaker

The company has been examining ways to reduce its reliance on the strait—including an LNG export facility on the country’s east coast—the chief executive says.

The Cronos project off Cyprus in the eastern Mediterranean lays the foundation for future drilling in the region, according to Eni’s chief operating officer, Guido Brusco.

The pipelines are only used occasionally but give the U.K. greater flexibility to tap gas from other sources in times of high demand, such as severe winters.

The decision allows Shell and Equinor joint venture Adura to begin operations within weeks.

Chevron, Shell and Harbour Energy have begun curbing production and evacuating personnel from offshore facilities as the region braces for the hurricane.

The deals come as capital-rich UAE looks to invest in Germany’s economy, where its leaders have been received on a visit this week.

Plan to boost production comes after OPEC exit earlier this year frees state-owned Adnoc of cartel’s restrictions.