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Strategy update: Eni sets path to net zero
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Report summary
Eni unveiled a new net zero target in its 2021 strategy update. It has also set out a clear plan which takes a measured approach to transformation. There is no abrupt departure from oil and gas, and an incremental build out of competences in new areas such as wind, solar and biofuels. This approach does mean that Eni has some heavy lifting to do beyond 2030. It is also reliant on the cost-competitive scaling up of nascent fields such as CCS and blue hydrogen. But Eni has the flexibility to adapt its plan as market and competitor dynamics evolve. This should help the company to maximise returns while also keeping options open in the legacy oil and gas business.
Table of contents
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Executive Summary
- Our take
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Leading decarbonisation targets
- Carbon mitigation can support material hydrocarbon production
- Exploration still featuring in Eni’s strategy
- Renewables capacity: might it grow quicker than planned?
- Establishing the renewables value chain
- Technology push in circular economy
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Financial framework; upstream is still core
- Financial framework: key announcements
Tables and charts
This report includes the following images and tables:
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Decarbonisation targetsExploration outlook
What's included
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