UAE – Mubadala Petroleum and Eni have signed a Memorandum of Understanding (MoU) to investigate collaboration opportunities in the energy transition sector, including hydrogen and carbon capture, utilization, and storage, that are aligned with their respective decarbonization ambitions.
The scope of the collaboration includes possible cooperative prospects in the Middle East, North Africa, South East Asia, Europe, and other mutually beneficial locations.
This agreement is a further practical step toward Eni’s ambition to carbon neutrality by 2050, boosting cooperation across sector players and solidifying coalitions for sustainable development aimed at tackling the energy transition problems jointly.
Net Zero Carbon Footprint
Eni’s decarbonization strategy calls for achieving a Net Zero Carbon Footprint for Scope 1 and 2 emissions from upstream activities by 2030, and for all Group activities by 2040. With full decarbonization of products and operations, this aims to achieve the net-zero target for GHG Lifecycle emissions Scope 1, 2, and 3 by 2050. This will be accomplished through bio-refining, the circular economy, efficiency and digital solutions, enhanced renewable capacity, blue and green hydrogen, carbon capture, utilization, and storage projects, and REDD+ programs. Recent initiatives include CO2 capture and storage projects in the United Kingdom, the delivery of carbon-neutral LNG cargos, the enhancement of electric charging services in Europe, new solar power capacity in Spain and France, and renewable energy projects in operational countries such as Norway, Kazakhstan, Angola, and others.