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

We are committed to progressively reducing emissions from our operations by reducing methane emissions and routine or process flaring and venting, 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. Remaining emissions will be voluntarily offset through high quality carbon credits.

The topics presented at COP29, the United Nations Climate Change Conference held in Baku, the capital of Azerbaijan, highlight the global commitment to reducing emissions and implementing the joint initiatives introduced during COP28, to which Eni has committed. We are continuing the implementation of the collaborative actions signed with OGDC (Oil & Gas Decarbonization Charter), GFMR (Global Flaring and Methane Reduction), GGFR (Global Gas Flaring Reduction established at the World Bank) as well as with OGCI (Oil and Gas Climate Initiative). 

In addition, our transparent approach in methane emissions reporting has been recognised with through the achievement of the OGMP Gold Standard Reporting (Oil & Gas Methane Partnership 2.0). Furthermore, in 2024 we published Eni's first Methane Report, which reports emission data in line with the initiative's requirements.

At the event 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).

At COP29, the Oil & Gas Decarbonization Charter (OGDC) published its first progress report, “The Oil & Gas Decarbonization Charter, 2024: A Baseline for Action”. The Collaborate & Share programme is a cornerstone of the OGDC’s efforts to accelerate climate action. 

This initiative complements Eni’s participation in the Global Decarbonization Accelerator, a platform launched by the COP28 Presidency to demonstrate the Oil & Gas industry's concrete contribution to the decarbonisation process.

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.