CO2, storage and reuse: the Eni-Saipem agreement

CO2, storage and reuse: the Eni-Saipem agreement
ENI and Saipem have signed a Memorandum of Understanding based on the implementation of decarbonisation initiatives and projects in Italy. The handshake between the managing directors Claudio Descalzi and Stefano Cao, in particular, focuses on the desire to create opportunities for collaboration on the capture, transport, reuse and storage of carbon dioxide produced by high-intensity industrial districts.

The objective is to contribute to the decarbonisation process of entire production chains, such as energy intensive ones, with concrete and rapid action to fight climate change and to achieve CO2 reduction targets at national, European and global level. Through the MoU, Eni and Saipem will also evaluate participation in programs financed by the European Union in the context of the Green Deal Strategy, proposing the possible inclusion of specific initiatives within the plan for the use of funds intended to support the Member States of the European Union in the post-COVID-19 phase ("Recovery and Resilience Fund")

A decarbonization project that starts from two groups operating in the oil world, where the shift of the center of gravity towards clean energy is becoming a goal always more concrete. According to Descalzi, for example, "With this strategic agreement Eni intends to strengthen its leadership role in the energy transition process, accelerating the evolution of its business model that combines economic and financial sustainability with environmental sustainability. The adoption of technological solutions for decarbonization such as Carbon Capture, Utilization and Storage, will be fundamental in the transition of the entire country and Eni can provide unique skills and competences in the management of production processes and in the fight against climate change. ".

Operating on the CO2 chain can offer important advantages in this transition phase, in an attempt to lower emissions into the atmosphere before reaching a larger production of clean energy (on which Eni is working for example with Enel on the hydrogen front).

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