The transition towards a sustainable energy mix

Faced with a continuously evolving world where environmental challenges are becoming more urgent, Eni has decided to change the energy mix, combining natural gas and renewables. This model not only combines economic, social and environmental sustainability, but it also helps meet the growing demand for energy and the increasingly urgent challenges posed by climate change. We are committed to a decarbonization plan for business sustainability over the long term, which is based on three key elements:

• reduction of carbon impact
• low-carbon portfolio and promotion of natural gas as a transition source for electricity generation and power for transport
• commitment to renewable energies

The combination of natural gas and renewables is the ideal solution for a low-carbon future, in addition to being the most efficient way to gradually eliminate carbon in the generation of electricity.

The energy sector’s reply to climate change: transformation

The most important event of 2017 on the topic of climate change was undoubtedly COP23, the 23rd Conference of the Parties organised by the UN, which was held in Bonn on 17 November and saw politicians, scientists and experts from countries all over the world come together to seek joint measures to fight the effects of the increase in global temperatures. The Paris Agreement was adopted in November 2016 and, as outlined by the International Energy Agency (IEA), it is first and foremost an energy agreement. The energy sector bears a great responsibility in terms of greenhouse gas emissions: that’s why its transformation is crucial in order to reach the objectives set out in the agreement. With every passing year, the energy sector has a growing responsibility to curb emissions of greenhouse gases. The transformation being enacted by Eni is therefore essential to reach the targets set by the Paris Agreement.

The role of natural gas in sustainable energy

Promoting the use of gas is a key part of our decarbonization strategy. Gas is the best possible partner for renewables during the transition towards sustainable energy. Natural gas power plants are more efficient from an environmental standpoint as they produce about half the CO₂ emissions of coal power plants. In terms of cost, it is a highly competitive resource; it is also reliable and safe. Therefore gas is the best and most flexible energy source to use in the generation of electricity. Gas is also available and easy to access. That’s why, 58 per cent of Eni’s current energy portfolio comprises gas-related projects.

Renewable energies: our know-how can boost efficiency

We have been active in the field of renewables in Italy and around the world for 35 years. The development of renewable energies in the countries where we operate is crucial for the development of our low-carbon business model. We created New Energy Solutions, which aims to launch large-scale projects for the production of energy from renewable sources both in Italy and abroad. This new unit does not offset Eni’s oil and gas operations but represents an integrated way to grasp opportunities that create value over the long term. In the last two years, we promoted projects that generate energy from renewable resources based in our plants in Italy as well as countries where we operate in Africa and Asia that show great potential. The goal? To improve our energy efficiency and contribute to energy access as a model for co-operation in the countries where we work.