Eni, Fincantieri Pair Up To Promote Energy Transition Initiatives

Eni, Fincantieri Pair Up To Promote Energy Transition Initiatives
Eni and Fincantieri have signed an MoU to establish a partnership for promoting initiatives focused on the energy transition.

Italian energy major Eni and compatriot shipbuilder Fincantieri have signed a memorandum of understanding (MoU) to establish a partnership for promoting initiatives focused on the energy transition.

The duo identified areas of common interest for developing synergies, including reducing the environmental impact of the maritime transport sector, producing energy from renewable sources, and the circular economy.

Under the MoU, Eni and Fincantieri will conduct a preliminary study to identify initiatives of common interest in the areas indicated, to launch subsequent joint technological or industrial innovation projects.

"Eni is on a transformational journey that will lead to the complete reduction of its net emissions, based on technologies that we have already made industrially operational or that are capable of becoming so in the short term through heavy investment into research,” Claudio Descalzi, CEO of Eni, said.

“We believe that the technological assets we are creating should be used to meet our decarbonization objectives, and also be shared with other leading industrial players to find opportunities for greater enhancement. The energy transition is first and foremost a technological transition, and only companies with a strong industrial and innovative capacity, as well as the willingness to combine forces and skills, will be able to lead it.”

Under this agreement, the two companies also intend to renew and extend their existing agreements regarding the activities of interest, converging them under a single, harmonized governance between the technological innovation and business units, to jointly promote the excellence of the Italian system.

This MoU, which regulates research and negotiation activities, may be subject to later binding agreements, including on transactions between related parties, which the parties will work out in line with applicable legislation.

"The agreement reaffirms the leading role that the industry has decided to play in the energy transition, a journey of profound innovation that our country has embarked on with determination. The MoU covers several highly strategic national sectors, and their development will play a key role in the new circular economy that will be defined in the coming years,” Giuseppe Bono, CEO of Fincantieri, added.

“Our strong corporate DNA has always led us to look to the future, and we are proud to be at the forefront of such a complex challenge alongside a partner like Eni,” Bono concluded.

To contact the author, email bojan.lepic@rigzone.com

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