Eni and Abu Dhabi National Oil Company or ADNOC have signed a Memorandum of Understanding (MoU) to collaborate on carbon capture, hydrogen and renewable energy.
The framework of the MoU outlines future joint projects involving sustainability, decarbonization and energy transition.
As per the agreement, ADNOC and Eni will explore collaboration opportunities in renewable energy sources, carbon capture and storage (CCS) technologies, as well as blue and green hydrogen.
Other areas include curbing methane and other greenhouse gas (GHG) emissions, routine gas flaring reduction, and energy efficiency.
Furthermore, both companies will work together to assess the potential to promote and spread the culture of sustainability in the energy industry and among its stakeholders.
“This agreement leverages the strategic relationship that Eni and ADNOC developed over the years, to strengthen our cooperation for decarbonization and for a just energy transition.
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It comes at a crucial time, in a difficult international juncture and in view of the upcoming COP28, where the UAE, as hosting country, are expected to set out their vision for a clean energy transition agenda,” said Claudio Descalzi, CEO at Eni.
Eni already has a large portfolio consisting of capital projects in the UAE and is one of the largest international companies in Abu Dhabi, having established its presence in the country in 2018.
Other topics that were discussed between the two state-owned companies included Italy’s energy policy in Africa, which, according to Italian Prime Minister Giorgia Meloni, is of great interest to the UAE.
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