BAKU, Azerbaijan, February 24. During the state visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan, and in the presence of Italian Prime Minister Giorgia Meloni, Eni CEO Claudio Descalzi signed three cooperation agreements with Emirati companies, Trend reports.
The agreements cover the development of data centers, renewable energy transmission between Albania and Italy, and critical minerals.
Eni signed a Letter of Intent with MGX, an investment fund focused on AI and advanced technology, and G42, an Abu Dhabi-based AI group, to develop data centers in Italy. These centers, with a planned IT capacity of up to 1 GW, will be powered by low-carbon "blue power" from natural gas plants with carbon capture and storage. The first project will be developed in Ferrera Erbognone in two phases of up to 500 MW.
In the renewable energy sector, Eni signed an agreement with Masdar and Taqa Transmission for long-term power offtake arrangements in Italy. The deal involves transmitting up to 3 GW of renewable energy from Albania to Italy via a 1 GW subsea interconnection. This agreement follows a strategic partnership signed in January 2025 between Italy, Albania, and the UAE.
Additionally, Eni and ADQ signed a Memorandum of Understanding to collaborate on research and development of critical minerals. The agreement aims to enhance the security and resilience of the critical minerals supply chain for both Italy and the UAE.
Eni has been active in the UAE since 2018, holding stakes in offshore exploration and production projects, as well as ADNOC Global Trading and ADNOC Refining.