Eni targets gas share production of over 90%

Oil&Gas Materials 21 May 2021 10:25 (UTC +04:00)
Eni targets gas share production of over 90%

BAKU, Azerbaijan, May 21

By Leman Zeynalova – Trend:

Italian Eni intends to reach a gas share production of 60 percent by 2030 and more than 90 percent by 2050, Trend reports citing the company.

Natural and artificial carbon capture will absorb residual hard‐to‐abate emissions in terms of forestry conservation projects through UN REDD+ schemes worth more than 6 MTPA of CO2 by 2024 and approximately 40 MTPA by 2050; as well as around 7 MTPA of CO2 Captured and Sequestrated (CCS) by 2030.

Eni intends to become a major global integrated operator with an installed capacity of 15 GW and over 25 GW by the end of 2030 and 2035 respectively and 60 GW by 2050. This growth will be financed organically and through M&A activities.

Eni has the required geographical scale and the skills to simultaneously manage complex projects worldwide. Eni will extract additional value by the merger of its renewables and retail business, which will leverage its already significant presence in retail. In particular, Eni assumes to install around 70 percent of capacity in OECD countries, where the expansion will be linked with its retail and industrial clients growth, whilst the remaining 30 percent will be installed in non‐OECD countries where Eni is already operating.

Eni will also leverage on its global presence and diverse portfolio of industrial assets, as well as its long track record of research and development, which is strengthened by its partnerships with respected universities. Finally, Eni will also keep investing in its own R&D, including new generation organic PV and marine wave energy.


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