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Eni and Mubadala Petroleum sign a memorandum of understanding for energy transition

Eni and Mubadala Petroleum sign a memorandum of understanding for energy transition

Eni and Mubadala Petroleum Signing a memorandum of understanding aimed at identifying opportunities for cooperation in this sector Energy transmission, including the capture, use and storage of hydrogen and carbon dioxide, in line with their respective decarbonization goals. The scope of cooperation covers potential joint opportunities in Middle East, North Africa, Southeast Asia and Europe and in other areas of common interest.

The MoU with Mubadala Petroleum is another tangible step in line with Eni’s commitment to achieving carbon neutrality by 2050, promoting cooperation between the various actors in the sector and consolidating alliances for sustainable development aimed at jointly addressing the challenge of the energy transition.

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Investments in innovation and technology towards decarbonization

CEO of Eni Claudio Descalzi He said: The agreement signed with Mubadala Petroleum represents Another step towards a low carbon future. Eni will benefit from all of its proprietary technologies, which focus on the energy transition. We will work with a strategic partner like Mubadala Petroleum to find ways to achieve shared decarbonization goals around the world.”

Mansour Mohammed Al-Hamid, CEO of Mubadala Petroleum, commented: “We are committed to playing our part in the energy transition. This includes the pursuit of a The balanced gas portfolio as a bridge to renewable energy. It also includes investments in innovation and technology to enhance decarbonization and support the development of the sector. Working with partners to build on the progress we have already made is vital and we look forward to continuing this collaboration.”

long term project

It envisages a decarbonization process of Eni Zero carbon footprint of Scope 1 and 2 emissions from upstream activities by 2030 and all of the group’s activities by 2040. The goal is to reach the net zero target in the range 1, 2 and 3 GHG life cycles through 2050 with complete decarbonization of products and processes. This will be achieved through biometric identification, circular economy, efficiency and digital solutions, Increase renewable energy capacity, blue and green hydrogen, carbon capture, use and storage projects and REDD+ initiatives.

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Recent initiatives include CO2 capture and storage projects in the UK, deliveries of zero-emissions LNG cargoes, improving electric charging services in Europe, New solar capacity in Spain and France and renewable energy projects in operating countries such as Norway, Kazakhstan, Angola and more.