Eni and Fincantieri have signed a memorandum of understanding to establish a partnership for promoting initiatives focused on the energy transition. According to a press release, the aim is “to create a system of integrated solutions for decarbonization projects in the fields of energy, transport and the circular economy.”

Eni and Fincantieri have identified areas of common interest for developing synergies, including reducing the environmental impact of the maritime transport sector, producing energy from renewable sources and the circular economy.

Under the Memorandum of Understanding (MoU), Fincantieri said that it will conduct a preliminary study together with Eni to identify initiatives of common interest in the areas indicated, with the aim of launching subsequent joint technological or industrial innovation projects.

“Eni is on a transformational journey that will lead to the complete reduction of its net emissions, based on technologies that we have already made industrially operational or that are capable of becoming so in the short term through heavy investment into research and. We believe that the technological assets we are creating should be used to meet our decarbonization objectives, and also be shared with other leading industrial players in order to find opportunities for greater enhancement. The energy transition is first and foremost a technological transition, and only companies with a strong industrial and innovative capacity, as well as the willingness to combine forces and skills, will be able to lead it,” said Claudio Descalzi, CEO of Eni.

“The agreement reaffirms the leading role that the industry has decided to play in the energy transition, a journey of profound innovation that our country has embarked on with determination. The MoU covers a number of highly strategic national sectors, and their development will play a key role in the new circular economy that will be defined in the coming years. Our strong corporate DNA has always led us to look to the future, and we are proud to be at the forefront of such a complex challenge alongside a partner like Eni,” Giuseppe Bono, CEO of Fincantieri, noted.

Under this agreement, the two companies also intend to renew and extend their existing agreements regarding the activities of interest, according to the press release. This will converge them “under a single, harmonized governance between the technological innovation and business units, with a view to jointly promoting the excellence of the Italian system.”

This MoU, which regulates research and negotiation activities, may be subject to later binding agreements, including on transactions between related parties, which the parties will work out in line with applicable legislation.