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Eni and Fincantieri to work together on decarbonization solutions

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Oil and gas giant Eni and Fincantieri signed a memorandum of understanding to establish a partnership on energy transition initiatives.

The aim is to create a system of integrated solutions for decarbonization projects in energy, transport and the circular economy.

Eni and Fincantieri have identified areas of common interest, including reducing the environmental impact of the maritime sector, producing energy from renewable sources and the circular economy.

Preliminary study to identify areas of common interest

They intend to conduct a preliminary study to identify potential synergies with the aim of launching joint technological or industrial innovation projects.

'Eni is on a transformational journey that will lead to the complete reduction of its net emissions, based on technologies that we have already made industrially operational or that are capable of becoming so in the short term through heavy investment into research and,' CEO Claudio Descalzi said. 'We believe that the technological assets we are creating should be used to meet our decarbonization objectives, and also be shared with other leading industrial players in order to find opportunities for greater enhancement.'

Reaffirms industry's leading role in energy transition

Fincantieri CEO Giuseppe Bono said the agreement 'reaffirms the leading role that the industry has decided to play in the energy transition, a journey of profound innovation that our country has embarked on with determination. The MoU covers a number of highly strategic national sectors, and their development will play a key role in the new circular economy that will be defined in the coming years.'

The two companies also intend to renew and extend their existing agreements, converging them under a single, harmonized governance between the technological innovation and business units.

The MoU, which concerns research and negotiation activities, may be subject to later binding agreements, including on transactions between related parties, to be worked out under the applicable legislation.

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