Mubadala Petroleum and Eni have joined forces to decarbonise the energy sector through the implementation of acceleratingly popular technologies such as carbon capture utilisation and storage (CCUS), hydrogen and LNG.
The duo today (7th September) announced the collaboration and said they will focus on the Middle East, North Africa, South East Asia, Europe, as well as other regions of mutual interest.
On the agreement, Claudio Descalzi, CEO of Eni, said, “The agreement signed with Mubadala Petroleum, represents another step towards a low carbon emission future.”
“Eni will leverage all its proprietary technologies, focused on energy transition. We will work with a strategic partner like Mubadala Petroleum to find ways of reaching common decarbonization targets worldwide.”
Mansoor Mohamed Al Hamed, Mubadala Petroleum CEO, added, “We are committed to playing our part in the energy transition. This includes pursuing a gas-weighted portfolio as a key bridge to renewables.
“It also includes investing in innovation and technology to advance decarbonization and support the industry’s evolution. Working with partners to build on the progress we have already made is vital and we look forward to advancing this collaboration.”
The effort is in line with Eni’s commitment to achieve carbon neutrality by 2050.