Eni’s strategy and the role of Natural Gas

Coral Sul ship at night

A versatile energy source that supports the energy transition.

Natural gas acts as an essential aid to energy security and, due to its characteristics, can have an important role when it comes to progressively lowering the GHG emissions linked to energy production. Of the fossil fuels, it is the one with the lowest carbon footprint and is currently the third energy source in the world1, with a wide range of uses and solutions that enable its emissions to be further reduced. Mainly made up of methane, gas is an abundant resource with global reserves of more than 200 billion cubic metres compared to global annual consumption which is equal to 4 billion2. Its wide availability is coupled with a relative ease of transportation, ensured by a widespread network on land via pipelines and by sea in the form of liquefied natural gas, which promotes security of supply. Its versatility makes it a primary source of electricity and for domestic and industrial heating, as well as an increasingly used fuel in the mobility sector. Natural gas is also a raw material for the production of hydrogen and for the chemical industry, which uses it in crucial processes.

 

Note

1 Confindustria, “Sistema gas naturale – Transizione e competitività”, 2019

2 WER (World Energy Review), Eni, 2023

Natural gas, renewable energies and new measures to lower emissions

Gas is part of Eni's industrial identity and, above all, is a key part of the strategy to achieve the Net Zero by 2050. In our diversified energy mix, gas is supported by renewables, bioenergy and other energy carriers such as hydrogen, according to the principle of technological neutrality. Particularly because of the support it can offer to the transition, the gas component will be increasingly prevalent in our production mix, accounting for 60% of hydrocarbon production in 2030 and over 90% in 2050. At the same time, Eni has set progressive targets to achieve zero net emissions with its exploration and production activities (Upstream) by 2030 and of all Eni’s operations by 2035 (Scope 1+2). Another key piece of our strategy is technology. As far as gas is concerned, Eni is deploying a series of solutions to further reduce emissions. An area of great interest is the capture, storage and utilisation of CO2 (CCUS), systems that allow industrial carbon dioxide emissions to be intercepted at source and stored permanently in depleted reservoirs or reused in other production processes. In addition to utilising the best technologies available today, we continue to support research into completely new energy sources such as magnetic confinement fusion, a potential breakthrough for the entire energy world.

 

Increasingly centre stage in the energy mix

In our long-term strategy, the share of natural gas in Oil & Gas production will continue to increase, progressively replacing the resources with a larger carbon footprint.

>60%

gas component in Upstream production in 2030


>90%

gas component in Upstream production in 2050


1,409
bcf

Eni annual natural gas production


1,310
mmboe

Eni’s proved undeveloped reserves of natural gas as of December 31, 2023


>60%

gas component in Upstream production in 2030

>90%

gas component in Upstream production in 2050

1,409
bcf

Eni annual natural gas production

1,310
mmboe

Eni’s proved undeveloped reserves of natural gas as of December 31, 2023

Expand Reduce

Natural gas, renewables and actions to lower emissions

Due to its lower carbon footprint compared to other traditional sources, gas can play a supporting role in the energy transition. Its flexibility of use also enables it to integrate effectively with renewables.



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