Eni’s CEO, Claudio Descalzi, has signed a Memorandum of Understanding (MoU) with Saipem’s CEO, Stefano Cao, to cooperate on the identification and engineering of decarbonization initiatives and projects in Italy, according to a press release.

The MoU is contributing to the decarbonization process of entire production chains, targeting the carbon capture, utilization and storage (CCUS) of carbon dioxide produced by the industrial districts in Italy, especially those of the highest energy intensity. This shall combat climate change and achieve the target of reducing carbon dioxide at national, European and global level.

According to the MoU, Saipem will also evaluate participation in programs funded by the European Union (EU) as a part of the Green Deal Strategy proposing the possible inclusion of specific initiatives within the plan for using funds that will support Member States of the EU post COVID-19 phase.

On this Occasion, Descalzi stated that “through this strategic agreement, Eni intends to strengthen its leadership in the energy transition process, accelerating the evolution of its business model that combines economic and financial sustainability with environmental sustainability.”

For his part, Cao, commented: “The agreement signed with Eni strengthens Saipem’s role as a leading player in the CO2 capture, transport, reuse and storage sector. We are able to propose concrete solutions to support the process of reducing carbon dioxide emissions of the energy and production chains of the industrial districts in Italy and contribute to the achievement of ambitious national and European objectives.”