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Eni and Fincantieri join forces to promote energy transition initiatives

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

Illustration only; Courtesy of Eni

As informed, the new partnership was established with the aim to create a system of integrated solutions for decarbonization projects in the fields of energy, transport and the circular economy.

Specifically, the two companies have 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 also conduct a preliminary study to identify initiatives of common interest in the areas indicated, with the aim of launching 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,” Claudio Descalzi, CEO of Eni, commented.

“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.”

“The MoU covers a number of 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.

Under this agreement, the partners also intend to renew and extend their existing agreements regarding the activities of interest, converging them under a single, harmonised governance between the technological innovation and business units.

Back in 2017, the firms partnered up on studying initiatives related to the natural gas transport chain, LNG, and the exploitation of gas resources. This partnership focused on developing projects regarding floating platforms for offshore production and the evaluation of energy projects with a low environmental impact.

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The latest 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.