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London (United Kingdom), 25 January 2024 – The Secretary of State for Energy Security and Net Zero of the United Kingdom, Claire Coutinho, met with Eni Chief Executive Officer Claudio Descalzi in London. The two parties discussed Eni’s activities and plans in the UK, which span across the entire energy value chain. Eni reiterated its intention to continue contributing to the UK’s energy security – as reinforced with the 2023 Neptune acquisition – as well as confirming its role as a key partner in the country’s Net Zero transition.
The meeting was an occasion to discuss the ongoing investments Eni is mobilising in the carbon capture and storage (CCS) sector, with its two ground-breaking projects HyNet North West and Bacton Net Zero. These projects will help decarbonise the UK’s hard-to-abate sectors, contributing to reaching the country’s 2030 targets, while creating new job opportunities and ensuring the long-term competitiveness of UK industries.
Eni’s activities in the offshore wind sector via Plenitude’s participation in Vårgrønn were also discussed, with Dogger Bank, Cenos and Green Volt projects capable of generating clean electricity in excess of 5 GW and also helping the decarbonisation of North Sea oil and gas platforms. The parties also discussed Eni’s plans to expand its magnetic fusion initiatives in the UK.
Claudio Descalzi, Chief Executive Officer of Eni, commented: “Eni sees the UK as a primary destination for its investments. We recognise the Government’s leadership in promoting a favourable regulatory environment and clear strategy towards an orderly and fast energy transition, especially in the UK’s CCUS sector. Eni has the right skills and experience in gas injection to be the number one CCUS player, leveraging its depleted assets in the country. Today’s meeting was a great opportunity to align with the Government on our mutual willingness to advance in the different areas in which we are investing, and the conditions that can help further accelerate the implementation of our projects and, in turn, attract more investments into the country. All of this can be built on key pillars that Eni and the UK Government share: natural gas to ensure energy security; renewables and offshore wind to decarbonise the power sector; CCS to help hard-to-abate industries transition to net zero; fusion energy to shape the energy sector of tomorrow.”
Claire Coutinho, UK Secretary of State for Energy Security and Net Zero, commented “The UK has the right geology, the right infrastructure, and the right skills to be at the forefront of carbon capture technologies. From oil and gas and offshore wind in the North Sea, to CCUS and Hydrogen in Norfolk and Liverpool Bay, Eni are backing the UK, investing in jobs and helping us develop the innovative technology that will reduce carbon emissions around the world.”
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