Eni is preparing to bring his second daughter into the company: after the listing of Fullness, is enilive to prepare for the price list by bringing with you a pro forma ebitda estimated in 2027 to 1,6 billion euros. The activity of Eni's satellite company is focused on the marketing of decarbonised products and, just like its big sister, Enilive could also take the stock market route, according to MF.
In the 2023 financial report, Eni highlights that the growth of its subsidiary will be fueled by investments of approximately 500 million euros per year over the plan period to 2027. Growth of Enilive's pro-forma ebitda is estimated at 1,6. 2027 billion by 40, “reflecting the growth of biorefining capacity, the rebranding of service stations and the increased contribution of non-oil services, which is expected to be equal to 2023% of retail activities by the end of the horizon floor". In 730, meanwhile, a pro-forma operating profit of 8 million euros was achieved, 2023% more than the previous year. Founded in January 50, the company has already started the process of international expansion with the acquisition of 1,65% of the biorefinery in Chalmette, Louisiana, which increased processing capacity to XNUMX million tonnes per year.
The decision for the biorefinery in South Korea with Lg Chem is awaited
enilive is also working with Lg Chem e Petronas for strategic initiatives in Southeast Asia. With Lg Chem is expected this year decision final investment for the creation of a biorefinery from 400 thousand tons in South Korea, to be completed by 2026. The agreement with the main South Korean chemical producer was announced in September 2023, and involves the installation of the site at the Daesan chemical complex, 80 kilometers southwest of Seoul. A similar project, but of a larger size (650 thousand tons), is being studied in Pangerang, IN Malaysia.
In Italy Meanwhile, the conversion of traditional refineries continues: Livorno, waiting for the authorization process to be completed, is destined to be number 3 after Porto Marghera (2014) and Gela (2019).
The update of Eni's strategic plan provides for Enilive a refining capacity of over 3 million tonnes per year in 2026, increasing to 5 million in 2030.
Sustainable aviation fuel: progressive doubling expected
One of the most important focuses is the production of sustainable fuel for aircraft, (Saf) and Eni has revised its production estimates for progressive doublings: in 2026 it is expected that enilive reach one million tons per year from the 500 thousand initially expected, and which could reach two million by 2030. There could be one of the biggest customers Ryanair, which has signed a letter of intent for a long-term supply contract in some Italian airports, while Kenya Airways has already carried out the first flight with Saf which will be produced by Enilive.
Satellite companies, pillars of Eni's Plan
The parent company Eni is counting on a contribution from Enilive and Plenitude equal to 20% in the growth of free cash flow, before working capital, estimated at over 30% in 2027 from the 13,5 billion euros expected in 2024. The valorisation of satellite company it is one of the pillars of Eni plan updated to 2027, in which it is estimated that 8 billion euros of proceeds will be generated by the active management of the portfolio. Beyond Fullness ed enilive, the two upstream companies are classified as satellites, Var Energy in Norway (listed on the Oslo stock exchange) e Azule Energy in Angola (50/50 joint venture with bp). Eni's CEO, Claudio Descalzi, has two more in the pipeline, one for the Ccs (CO2 Capture and Storage), the other for Biochemistry, both to be established within the plan.
