ETS is 100 per cent owned by Eni and responsible for the integrated management of all Trading & Shipping activities.
The Eni Trading and Shipping team works with passion to seize all opportunities offered by the energy market.
Eni Trading & Shipping (ETS) was established as an independent company in 2007. Fully owned by Eni, it was founded as a hub of excellence for trading in crude oil and refined products. The company manages the Eni group’s international marketing of crude oil and petroleum products and their transport by sea. In November 2010, hoping to take better advantage of the opportunities offered by increasingly inter-connected, liquid and volatile markets, Eni announced that it was integrating all of its gas, electricity and environmental-certificate trading activities. ETS therefore took on responsibility for every aspect of Eni’s commodity trading. By combining gas, electricity and environmental certification, the company is afforded a comprehensive view of the market, helping it to optimise assets and support strategic decisions.
Integrating trading activities in Eni trading & shipping SpA has allowed Eni to seize further business opportunities, in an increasingly liquid and integrated commodities market, both developing a trading hub of excellence and optimising the group assets on the market.
ETS has a team of 293 people (average number of employees in 2017) across four locations: London, Brussels, Singapore, Rome, in addition to a Houston-based subsidiary, ETS Inc. The subsidiary Eni trading & shipping Inc. deals with the marketing of crude oil and petroleum products on the US market, as well as natural gas, both internationally and Eni group's domestic production.
It has a global presence, active in all European markets as well as in America, Africa and Asia. The ETS team is made up of motivated, highly-qualified people who:
All the men and women of ETS appreciate the value of teamwork and a customer-centric approach. These qualities guide the entire ETS team in its day-to-day work.
ETS acts as a single interface between Eni and the international markets for crude oil, gas, power, CO2 and petroleum products derived from oil processing, and also the associated sea shipping markets. It is a global, integrated approach designed to make the most of Eni’s network of contacts and wide asset portfolio. In turn, ETS helps to optimise the management of Eni’s assets, promoting collaboration within the organisation and devising advanced risk-management solutions. ETS enhances Eni’s unique position as a European leader in the gas sector, acting as a single hub for trading and commodity risk management.
We work tirelessly to achieve excellence and promote new approaches to our work. We dedicate time to carrying out all the necessary checks, even when deadlines are tight. We are constantly putting ourselves to the test and searching for new, more effective solutions, even though we recognise that many of our ‘traditional’ methods often remain the best. We believe that team success is more valuable and enduring than individual achievement. Integrity, transparency and social responsibility underpin our work, ensuring we comply with legislation, our in-house code of ethics and Eni’s regulatory system. We strive to achieve best practice in the way we apply Eni’s rules, paying particular attention to those relating to corruption, competition and health and safety.
The gas market has changed dramatically in recent years; increased volatility and liquidity, combined with closer correlation between energy commodities, demand more sophisticated trading and rapid decision-making to create value and manage market risk. Gas, LNG, power and CO2 trading includes:
Eni’s leading position gives ETS access to in-depth knowledge of physical markets and gas transportation.
Shipping involves managing the transportation of crude oil and petroleum and chemical products, both nationally and internationally, both for the benefit of ETS and on behalf of other companies in the Eni group. International shipping of crude oil and refined products predominantly takes place between the production centres or refineries and the centres where they are to be used by Eni and also by third parties. National shipping, meanwhile, most commonly involves moving semi-finished and finished refinery and petrochemical products between the production and distribution centres of Eni’s various divisions.
ETS attaches the utmost importance to the compliance of the ships it leases with all environmental and international safety regulations and the same is true of their respective technical operators. To accomplish this, ETS established its own Vetting team to guarantee the integrity of the process of selecting ships and authorising them for use through inspections that check their compliance with the highest standards in the sector. This work was introduced in the mid-1990s, when a sophisticated IT system was developed to ensure the rigorous standards required by the industry are followed and to optimise the whole process.
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