Mubadala Petroleum and Eni sign MoU for cooperation in energy transition initiatives

Mubadala Petroleum, a wholly owned subsidiary of Mubadala Investment Company, and Eni have signed a Memorandum of Understanding (MoU) aimed at identifying cooperation opportunities in the energy transition sector, including the fields of hydrogen and carbon capture, utilization and storage, that align with their respective decarbonization targets. The scope of the cooperation covers potential joint opportunities in the Middle East, North Africa, South East Asia, Europe and other regions of mutual interest.

This agreement marks a further tangible step in line with Eni’s commitment towards carbon neutrality by 2050, promoting cooperation between different players in the sector and consolidating alliances for sustainable development aimed at tackling the energy transition challenges together.

Eni CEO Claudio Descalzi, 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.’

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Source: Energypedia

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