Reducing emissions linked to Oil&Gas production, contributing to the Net Zero target

We are committed to decarbonizing our operations by progressively reducing methane emissions and routine flaring and by investing in energy efficiency. We plan to achieve net zero emissions (Scope 1+2) for the upstream business by 2030 and for all Eni businesses by 2035.

On 24 September, during the Turning Methane Pledges into Action event organized by the International Energy Agency (IEA) and the COP29 Presidency as part of the activities connected with the United Nations General Assembly, we presented the first Eni Report dedicated to methane. The report underscores our commitment to transparency and the reduction of global methane emissions, acknowledges the key role that decreasing methane emissions in the Oil & Gas sector can play in combating climate change and details Eni's actions to lower methane emissions across all its operations, as well as how we share this experience with other industry operators.

Actions to reduce methane and flaring emissions and investments in energy efficiency are part of our operations’ decarbonization strategy, which sets Net Zero emissions targets in the short and medium term. We expect to achieve Net Zero Scope 1+2 emissions for the upstream business by 2030 (Upstream Net Zero) and for all Eni businesses by 2035 (Eni Net Zero).

The plan goes beyond the commitments made in the Oil & Gas Decarbonization Charter (OGD Charter) and is in line with the priorities of the COP28 Presidency, whose commitment we also support through OGCI, aimed at moving the entire oil & gas sector towards Net Zero emissions by 2050.

In addition, we announced we have joined Oil & Gas Decarbonisation Accelerator , the platform launched by the Presidency of Cop28 to demonstrate the Oil & Gas industry's concrete contribution to the decarbonisation process. First of all through the commitment to zero emissions for our operations by 2050.

We have launched concrete collaborative and expertise-sharing actions to reduce emissions both through industry organisations and public-private partnerships, such as the Oil and Gas Climate Initiative (OGCI), Methane Guiding Principles, and the World Bank’s Global Gas Flaring Reduction Partnership (GGFR), as well as through bilateral agreements with producer countries and their national companies. Eni, as a member of OGCI, is a sponsor of OGCI’s ​​Satellite Monitoring Campaign program, which uses satellite technology to monitor 50 of the world’s most emission-intensive sites, facilitating the identification of solutions to reduce methane emissions. The results of campaigns conducted in 2022-23 in Algeria and Kazakhstan demonstrated the effectiveness of joint efforts and new technologies deployed with rapid results, such as the mitigation of three emission sources with an average of 3,200 kg/h of methane emissions. Moreover, through the ​​OGCI Climate Investment, Eni has contributed to the development of technologies that can identify and monitor methane emissions. OGCI recognises that technological innovation plays a central role in combating climate change, combined with the promotion of collaboration between companies in the energy sector, first and foremost national oil companies.

Eni has also joined the World Bank’s Global Flaring and Methane Reduction Fund to support the reduction of methane flaring and venting in high emitting and low- income countries.

To support national oil companies’ decarbonization initiatives, we have started collaborations with Sonatrach in ​​Algeria and with the Egyptian Natural Gas Holding Company (EGAS) ​​in Egypt on field activities and training programmes focused on flaring reduction and the measurement, mitigation and reporting of methane emissions. Similar initiatives are taking place in Libya, the United Arab Emirates and Indonesia.

Specifically, with our Algerian partner Sonatrach, we have concluded strategic agreements for the reduction of greenhouse gas and methane gas emissions, which include the launch of energy efficiency initiatives, the development of renewables, hydrogen production, and carbon ​​capture and storage projects.