Eni ha responded to questions submitted by shareholders in view of the shareholders' meeting to approve the budget and renew the board of directors scheduled for May 10 and that also this year will be held behind closed doors.
Arbitration dispute with Gazprom
Eni responded to a shareholder's question about the state of the contracts long-term with Gazprom, the Russian energy multinational, for the import of gas from Russia to Italy: "The contracts with Gazprom export sare still in effect, although as of June 2022 Gazprom export has started ad apply delivery reductions. The reductions applied by Gazprom export are subject of arbitration dispute covered by confidentiality".
In 2022, the total gas supply of Eni from Russia amounted to approximately 17 billion cubic meters of which approximately 11 billion cubic meters destined for Italy and approximately 6 billion cubic meters destined for Turkey via the Bluestream pipeline. From Moscow, however, for this year, Eni it did not import liquefied natural gas.
The listing of Plenitude on the Stock Exchange is in stand-by
Eni confirmed theobjective of the listing of Plenitude but this will happen “when the conditions of the stock market will more favorable or less uncertain“. The company then declared, regarding the hypothesis that the entry of institutional investors could preclude entry on the Stock Exchange, that the listing will also be made "with the eventual entry of an institutional investor". On the negotiations for the sale of 10% of Plenitude to the Norwegian fund HitecVision, the company preferred not to comment "on specific institutional investors" while confirming the option of a possibility of a sale of a minority stake to one or more institutional investors.
Eni: 2022% of investments with low energy consumption in 14
Eni then answered the questions presented byshareholder Fondazione Finanza Etica which asked within which year the investments in the development of the renewable energy business, the acquisition of new customers and the development of network infrastructure for electric vehicles would exceed those in the refining and distribution of petroleum products in volume: "Eni is committed to align their investment plans and decisions with the decarbonisation strategy. L'evolution towards a portfolio of totally decarbonised products will be supported by a progressive growth in the share of investments dedicated to new energy solutions and services, which will reach 30% of total investments in 2026, 70% in 2030 and up to 85% in 2040" reads the company's response .
In 2022, i Eni capex in low and zero carbon amounted to 1,2 billion or approximately 14% of total investments. Of these, around 0,4 billion were investments in renewable energies, including biofuels, equal to 5% of the total. Compared to 2021, investments in renewable energy have increased by 75%.
