While Rome's new administration attempts to repair ties with the United Arab Emirates, Italian oil and gas giant Eni (ENI.MI) announced plans to collaborate with Abu Dhabi National Oil Co (ADNOC) on energy transition initiatives.
During a meeting with UAE President Sheikh Mohammed bin Zayed al-Nahyan, Italian Prime Minister Giorgia Meloni stated that now that reciprocal confidence has been restored, potential areas of collaboration might range from energy to defence. Claudio Descalzi, CEO of Eni, and Dr Sultan Ahmed Al Jaber, Group CEO of ADNOC, inked an agreement on March 4 for cooperation initiatives in energy transition, sustainability, and decarbonisation.
Eni and ADNOC seek to use this agreement to investigate possible prospects in renewable energy, blue and green hydrogen, carbon capture and storage (CCS), and emissions reduction. Moreover, both firms will assess areas of collaboration for sustainable growth and promote the spread of a sustainable culture within the energy industry and its stakeholders.
Since 2018, Eni has had a presence in Abu Dhabi. Eni claims to be one of the most important foreign corporations in the UAE, with a considerable capital projects portfolio.
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