Eni and Sonangol expand cooperation in decarbonization and sustainable energy transition areas

Source Company Press Release
Company ENI S.p.A., Sonangol
Tags Country: Angola, M&A: Corporate Deal, Deals, Renewables: Bio Fuel, Sustainability: ESG/CSR
Date May 24, 2023

The CEO of Eni Claudio Descalzi and Chairman of the Board of Directors of Sonangol Sebastião Pai Querido Gaspar Martins have signed today in Rome a Memorandum of Understanding (MOU) to further expand the scope of the cooperation between the two companies by developing studies in the agribusiness value chain and in other sectors of decarbonization, including energy transition minerals and innovation ecosystem. The MoU was signed at the presence of the President of Angola João Lourenço and of the Prime Minister of Italy Giorgia Meloni, in the framework of the state visit of President Lourenço to Italy.

Under the terms of the MoU, Eni and Sonangol will jointly identify and assess opportunities in the areas of Energy transition, including agro-industrial supply chains for the production of low carbon fuels, valorization of residual biomass and green ammonia for agro-industrial applications. Also, the companies will evaluate Agribusiness opportunities, with studies to promote synergies between national agricultural food and bio-energies value chains with a focus on improved seeds and biotechnologies, mechanization, fertilizers and logistics services. Other areas of cooperation might include energy transition minerals, such as those used in the production of batteries and renewable energies, and the Innovation ecosystem, including capacity building, assessment and development of innovative technologies and digital solutions in the fields of energy transition and agribusiness also through the support to the environment of start-ups and small medium enterprises (SMEs).

The Memorandum builds on the good progress of the MoU signed by Eni, Sonangol and Agência Nacional de Petróleo, Gás e Biocombustíveis de Angola (“ANPG”) in October 2021 to identify cooperation opportunities in the Republic of Angola in the fields of bio-feedstock, and circular economy. The MoU is in line with  Sonangol’s decarbonization vision to invest and implement energy projects derived from cleaner sources, and with Eni’s strategy to play a pivotal role in the overall decarbonization process, including by promoting a greater recourse to renewable energy sources and other low carbon energy vectors and technologies, in compliance with the provisions of the Paris Agreement on Climate Change and the Sustainable Development Goals.

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