Eni has signed a memorandum of understanding with Abu Dhabi National Oil Co (ADNOC) to collaborate on energy transition projects. The announcement comes as the Italian government seeks to strengthen ties with the United Arab Emirates.
Restoration of trust between the two countries
Italian Prime Minister Giorgia Meloni said during a meeting with the UAE president that mutual trust had been restored between the two countries. She also stressed that areas of cooperation could range from energy to defense.
Italy had previously halted the sale of thousands of missiles to Saudi Arabia and the United Arab Emirates in 2021, citing its commitment to restoring peace in Yemen. The United Arab Emirates responded by asking Italy to leave a military base in the Gulf.
Exploration of energy transition projects
Eni announced that it would explore opportunities with ADNOC in the areas of renewable energy, blue and green hydrogen, carbon dioxide capture and storage (CCS), greenhouse gas and methane emissions reduction, energy efficiency, routine gas flaring reduction and the Global Methane Pledge.
A partnership to fight climate change
By signing a Memorandum of Understanding, Eni and ADNOC commit to work together to support global energy security and a sustainable energy transition. They will also assess areas of cooperation for sustainable development and the promotion of a culture of sustainability within the energy industry and its stakeholders.
Claudio Descalzi, CEO of Eni, stressed that this agreement reinforces the strategic relationship that Eni and ADNOC have developed over the years to strengthen their cooperation in energy transition and decarbonization. He also noted that this comes at a crucial time ahead of the upcoming COP28, where the UAE is expected to present its vision for a clean energy transition program.
