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Gas & Power

Eni operates in the supply and sale of natural gas

In 2014, Eni gas sales (89.17 bcm) were down by 4.3% compared to 2013. Eni's sales in the domestic market of 34.04 bcm decreased by 5.1% driven by lower sales in all the business segments partially offset by higher spot sales. Barely unchanged volumes marketed in the main European markets (42.21 bcm; down 1.1%).

Availability of electricity

Eni's power generation sites are located in Ferrera Erbognone, Ravenna, Livorno, Mantova, Brindisi, Ferrara and Bolgiano. In 2014, power generation was 19.55 TWh, down by 1.83 TWh or 8.6% from 2013, mainly due to lower production at Ravenna and Brindisi plants due to decreasing demand.

As of December 31, 2014, installed operational capacity was 4.9 GW (4.8 GW as of December 31, 2013). Electricity trading reported a slight increase (up 2.6% to 14.03 TWh ) due to higher purchases on the spot market.

  • Activities 2014Activities 2014
  • StrategiesStrategies

In 2014 power sales (33.58 TWh) were directed to the free market (74%), the Italian power Exchange (14%), industrial sites (9%) and others (3%).

Compared with 2013, electricity sales were down by 4.2%, due to lower sales to large clients and wholesalers partially offset by higher volumes traded on the Italian power Exchange.

 In 2014 capital expenditure amounted to €172 million, mainly related to initiatives aimed to improve flexibility and upgrade the combined cycle power plants (€98 million) and gas marketing initiatives (€66 million).

 

In the Gas & Power segment, it is forecasted a structural decline in demand due to lower consumption driven by the macroeconomic crisis, competition of other sources as well as a general oversupply situation in Europe, in the context of an increasing liquidity at hubs.

Main target is the focus on profitability and sustainable cash flow, according the following guidelines:

  • complete alignment of supply portfolio to market conditions and substantial recovery of the residual amounts of gas paid in advance;
  • simplification of operations and optimization of logistic costs with a saving of €300 million by 2018;
  • development and growth in the value added segments, in particular in the retail segment, developing the client base also through the sale of extracommodity products, trading as well as in the LNG segment, leveraging on the marketing opportunities in premium markets and upstream integration.

Cash flow from operations is expected to contribute for €3 billion cumulatively over the four-year plan.




Integrated Report eni for 2014
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Last updated on 13/05/15