Eni and Fincantieri sign an agreement for initiatives to support the energy transition

Eni and Fincantieri have signed a Memorandum of Understanding (MoU) which aims to launch a collaboration to promote initiatives aimed at the energy transition, by identifying a system of integrated solutions in decarbonization projects in the energy, transport and of the circular economy.

Eni and Fincantieri have identified areas of common interest in which to develop synergies including the reduction of the environmental impact of the maritime transport sector, the production of energy from renewable sources and the circular economy.

In particular, on the basis of the MOU, Eni and Fincantieri will conduct a preliminary study to identify initiatives of common interest in the areas indicated, in order to promote subsequent joint technological or industrial innovation projects.

Claudio Descalzi, Eni's Chief Executive Officer, stated: “Eni is undertaking a transformation path that will lead to the complete reduction of its net emissions, based on technologies that we have already made operational at an industrial level or capable of becoming so in the short term. In fact, we have invested heavily in research and development and we believe that the technological assets we are building must be, on the one hand, at the service of our decarbonisation objectives, and on the other hand that it should be shared with other industrial entities of excellence in order to find opportunities for increasing value. The energy transition is first of all a technological transition and only companies that have a strong industrial and innovative capacity, as well as the desire to combine forces and skills, will be able to guide it ".

Giuseppe Bono, CEO of Fincantieri, commented: “The signature reaffirms the driving role that the industry has decided to assume in the context of the energy transition, a path of profound innovation that our country has undertaken with determination. The subject of the memorandum are some highly strategic national sectors, the development of which will have a decisive weight in the new circular economy that will be defined in the coming years. We are proud to be at the forefront, alongside a partner like Eni, in such a complex game, strengthened by a corporate DNA that has always led us to look far ahead ”.

With this agreement, the two companies also intend to renew and extend the previous agreements in place in the area of ​​activities of interest and with a view to jointly promoting the excellence of the Italian system, making them converge under a single harmonized governance between the functions of technological and business innovation. The MOU, which regulates study and negotiation activities, may be the subject of subsequent binding agreements that the parties will define in compliance with the applicable legislation, including that on transactions between related parties.

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Eni is an integrated energy company with over 30.000 employees in 67 countries around the world. It explores, develops and extracts oil and natural gas in 43 countries, is active in the trading of oil, natural gas, LNG and electricity in 28 countries and markets fuels and lubricants in 33 countries. Through refineries and chemical plants, Eni produces crude oils and semi-finished products for the production of fuels, lubricants and chemical products that are distributed to both the wholesale and retail markets. The company makes its contribution to the energy transition towards a low-carbon future, promoting the development of energy from renewable sources thanks to the use of new and increasingly efficient technologies and applying the principles of the circular economy to all its activities. The company's development between now and 2050 will be based on the 17 United Nations Sustainable Development Goals (SDGs) and greater integration between the different activities. Eni will become even more integrated, from production to final sale, both as regards conventional products and bio and renewable ones. In the global scenario in which the growing energy demand forces commercial activities to become significantly more sustainable, Eni asserts itself once again in its role as a leader in this drive aimed at making the energy production process more sustainable.

Fincantieri is one of the main shipbuilding complexes in the world, the only one active in all sectors of high-tech shipbuilding. It is a leader in the construction and transformation of cruise, military and offshore units in the oil & gas and wind power sectors, as well as in the production of systems and components, in the offer of after-sales services and in ship furnishing solutions. Thanks to the skills developed in the management of complex projects, the Group boasts references of excellence in infrastructures, and is a reference operator in digital and cybersecurity, in electronics and advanced systems.

With over 230 years of history and more than 7.000 ships built, Fincantieri maintains its know-how and management centers in Italy, where it employs 10.000 employees and activates around 90.000 jobs, which double on a global scale thanks to a production network of 18 factories on four continents and over 20.000 direct workers.

Eni and Fincantieri sign an agreement for initiatives to support the energy transition

| Economics |