Img_oil_Our_channel.jpg
enioilproducts

Your business, our energy

Products and solutions for business and customers Italy and abroad

Img_enispace_Our_channel.png
ENISPACE

Working and growing together

The platform dedicated to Eni's current and future suppliers

515065726

Eni’s investment case

A clear proposal on why to invest in Eni.

We have built a new Eni based on efficiency, integration and deployment of new technologies. Decarbonization is structurally embedded in our overall strategy and ambitions. In our energy transition path, we have defined the decarbonization objectives for 2050, with intermediate milestones for 2030 and 2040. This section highlights Eni's investment case.

1. Eni is committed to the energy transition

  • Eni Carbon Neutral @2050: net zero absolute and GHG intensity (Scope 1&2&3)  
  • Scope 1&2: Upstream net zero carbon footprint @2030; Eni net zero carbon footprint @2040

2. Natural Resources

  • Upstream: resilient and flexible
    - Production growth CAGR in the range of 4% in 2020-2024 reaching a plateau in 2025. 
    - Exploration will target 2 Bln boe of new discoveries in 2021-2024 at a leading cost of 1.6 $/boe
    - Gas share: 60% @ 2030 and >90% @ 2050
  • Gas & LNG: enhancing equity monetization
    - LNG contracted volumes at 14 mln ton/a @2024. Equity share > 70% @2024
  • Reducing carbon footprint
    - Forestry: REDD+ initiatives with the target to offset more than 6 mln ton of CO2 by 2024 and  20 mln ton by 2030
    - CCS: total storage capacity target of around 7 mln ton CO2/year @2030 and 50 mln ton CO2/year @2050

3. Energy Evolution

  • Renewables & Retail: integration and growth
    - Installed capacity worldwide (mainly solar and wind): 4 GW @2024; 15GW @2030; 60GW @2050
    - Customer base: 9.6 mln in 2020; >11 mln @2024; 15 mln @2030; >20 mln @2050
  • Downstream: a progressive conversion to bio-products
    -
    Refining capacity: bio > 1 MTPA @2020; 2 MTPA @2024 (palm oil free @2023); ~6 MTPA @2050
    - Eni stations: 100% sustainable products sold by 2050

 

4. Stakeholder Value Creation

  • A fixed component of 0.36 euros per share secured at a Brent price of 43 $/bbl, 2 $ lower than the previous level
  • A variable component calculated as a percentage between 30% and 45% of the incremental Free Cash Flow generated by a scenario between 43 $/bbl and 65 $/bbl
  • Buyback program to restart at a level of Brent price of 56 $/bbl with a value of  300 million euro per year. This amount will rise to 400 million euro from 61 $/bbl and to 800 million euro from 66 $/bbl onward, as originally planned
Eni's evolution to 2050

Fact Sheet

PDF 152.23 KB
PDF 152.23 KB