The revamp divides Eni’s operations into two groups - Natural Resources and Energy Evolution. The latter focuses on power generation from natural gas, renewables and biomethane as well as retail gas & power, mobility marketing and Eni’s the refining and chemicals businesses. The companies Versalis (chemical products) and Eni gas e luce will also be consolidated in this business group.
Eni pointed out its new Energy Evolution business unit will coordinate the bio and circular evolution of the Company’s refining system and chemical business, and it will further develop Eni’s retail portfolio, providing increasingly more decarbonized products for mobility, household consumption and small enterprises. Thanks to the business group’s coordination, the Company will be able to develop these activities in an integrated way, both geographically and in terms of business line, maximizing results in terms of product development, customer service and profitability.
The company’s Natural Resources segment, meanwhile, incorporates Eni’s oil & gas exploration, development and production activities, natural gas wholesale via pipeline and LNG. The company said the focus hereby will be on technological development, and increased efficiency to maximise of cash generation, even in challenging scenarios.
“This new structure reflects Eni’s pivot to the energy transition,” said CEO Claudio Descalzi said. “With our new plan, we have set our path for the next 30 years. We are creating two new business groups [with] specific objectives, but they will also cooperate to deliver on the transition and to provide our customers with the widest range of sustainable products,” he explained.
The reorganization comes against the background of a global fight against climate change and promotion of sustainable development. “Only those who pursue these in an innovative way will create value in the long term,” Descalzi said, stressing; “We want to be main actors in a Just Energy Transition, in which we believe, and is central to Eni’s transformation.”