This supercontinent that incorporates Europe, the Russian Federation and the countries of Central Asia is an enormous and varied space that has been at the heart of Eni’s operations since the late 1950s. The region, which covers 12 time zones and plays a key role in the world, both economically and politically, is at the centre of the transformations and challenges we face in the 21st century. Not least of these is Europe’s need to find a new momentum based on infrastructure and digital innovation, enabling it to resume growth and stability. The main challenges from an energy and environmental perspective are the region’s growing dependence on imports and the need for more sustainable energy, as well as the demand for better integration and interconnectivity between energy markets.
Major hydrocarbon-producing countries, such as Russia and the Central Asian countries at the crossroads between East and West, are part of a new geopolitical ‘Great Game’. The main challenges involve redefining economic and production models to tackle new global issues linked to energy transition, while looking for new export markets for oil and gas. The sanctions placed on Russia are forcing it to seek new markets and partnerships outside of its traditional areas, and it is increasingly shifting attention from Europe to the Middle East and Africa.