Eni launches 100 million gas hub as Eni stock costs EUR 26.24

Published on 10/20/2026 at 10:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Meleiha Phase 2 adds 100 million standard cubic feet per day. Eni stock costs EUR 26.24 on October 20, 2026, 0.40 percent above Xetra close.

Egypt gas hub and investor dates

Meleiha Phase 2 is designed for 100 million standard cubic feet of gas per day on October 20, 2026.
Eni reported EUR 8.9 billion of proforma adjusted EBIT for the first half of 2026.
Eni stock trades at EUR 26.24 at 10:16 a.m. CEST at Lang & Schwarz on October 20, 2026, 0.40 percent above the Xetra close of October 19, 2026.
Eni is scheduled to publish third-quarter 2026 results on October 23, 2026.

Pop art comic illustration of a vivid green electric lightning bolt surging through a digital smart energy meter — Enel IT0003132476 Pop-Art Comic Stromfunke Smart-Meter Halbton Blitz Farben Gelb Grün Magenta, Illustration mit AI erstellt.

Eni (ISIN IT0003132476) trades at EUR 26.24 at Lang & Schwarz on October 20, 2026 at 10:16 a.m. CEST, 0.40 percent above the Xetra close of October 19, 2026 at EUR 26.14. The company launched start-up activities for the Meleiha Phase 2 gas project in Egypt's Western Desert on October 20, 2026, according to Eni.

Egypt project adds gas capacity

Meleiha Phase 2 includes development wells, gathering systems, trunklines and a dedicated export pipeline. The facility is designed to process up to 100 million standard cubic feet of gas per day, creating a new gas hub within the Merged Meleiha concession.

Eni said its equity hydrocarbon production in Egypt was approximately 242,000 barrels of oil equivalent per day in 2025. The project therefore adds processing capacity to an established operating base rather than representing a standalone exploration announcement, according to Eni.

Three dated operating steps

On October 8, 2026, Eni said the Liverpool Bay CCS network was approximately 50 percent complete. On October 12, 2026, it announced agreements to sell 10 percent interests in selected Indonesian upstream assets, where recent discoveries identified more than 10 trillion cubic feet of gas and 650 million barrels of condensate. On October 20, 2026, Meleiha Phase 2 moved into start-up activities with planned processing capacity of 100 million standard cubic feet per day, according to Eni, Eni and Eni.

What does the project mean for earnings?

Eni's investor page lists proforma adjusted EBIT of EUR 8.9 billion and adjusted net profit of EUR 3.6 billion for the first half of 2026. It also reports EUR 7.3 billion of cash flow from operations before working-capital changes and daily hydrocarbon production of 1.8 million barrels of oil equivalent for the period, according to Eni. The new gas capacity is material operational context, but the company has not assigned a separate earnings figure to Meleiha Phase 2.

Next result date is October 23

Eni's investor calendar schedules the third-quarter 2026 results and conference call for October 23, 2026 at 2:00 p.m. CEST. That release will provide the next company-wide test of production, cash flow and profitability after the first-half figures.

Stock stays above the Xetra close

Eni is listed on Euronext Milan under ticker ENI and operates in the integrated oil and gas industry. At Lang & Schwarz, Eni stock was trading at EUR 26.24 on October 20, 2026 at 10:16 a.m. CEST, 0.40 percent above the Xetra close of October 19, 2026 at EUR 26.14. The further course of trading is shown by the continuously updated real-time quote of Eni stock.