by Stefano Vaccara
NEW YORK (USA) (ITALPRESS) – Eni celebrated at the New York Stock Exchange the 30 years of its quotation with “opening bell” played by CEO Claudio Descalzi and a press conference full of industrial and geopolitical themes. The red wire? The same dynamic that Harvard’s energy expert, Daniel Yergin, described just over thirty years ago in the book The Prize: energy as the engine of history. “What he wrote is still very valid and is absolutely valid, because without energy there are no infrastructure, there is no medicine. Today artificial intelligence and data centers also grow exponentially: everything needs energy”.
The strategic photography of Eni remains pragmatic: transition yes, but “additive”, not replacement. “Who thought of a transition as elimination and replacement has done a huge harm to the transition,” explained Descalzi, claiming the model that holds together demand for today and tomorrow’s offer and recalling investments on renewables and bioenergy.
Without ideology, with measurable returns: “The transition must continue, but not in an exasperated and ideological way.” On the financial front, the Ad pointed out the impact of the change: “For us the euro-dollar change is terrible, we lose hundreds of millions on which we can do little”, stating that despite this Eni “has beat the consensus” in the third trimester. Chapter equity story: the listing of Plenitude and Enilive “remains always on the carpet” but “in short I think not. First I want to see how we consolidate the growth plan and when we have stability and ability to maintain those values, then we can talk about it.” With regard to geopolitics on Venezuela, where tensions with Washington weigh on operations, Descalzi summarized the criticality and ongoing negotiation: “We discovered so much gas that goes to the domestic and we can’t stop. The contract has an option with which we were paid in loads and not with cash, loads that went to the US and which can no longer go. We are talking to the US, see if we can find a solution.”.
In essence: to ensure continuity to an essential energy flow for the population, finding a mechanism of regulation that does not remain unbalanced in the sanctions.
When asked about the situation in Libya, the message is of operational realism: “In recent years we have been there despite the civil wars. We produce gas and everything goes for the country. By now the GreenStream brings 4 billion cubic meters to Italy. We have become essential to civil society. Libya has always paid at all times, they are always punctual, structured and linear in paying, it is an important thing.” Answering a question about the idea that there is no “energy transition” but only “energy addition”, Descalzi has clarified that the correct trajectory is additive: reduce over time coal and then gas, as new sources enter. He rejected the idea that solar and wind are not “reliable”, recalling that Eni will arrive “at the end of the year at 5.3 GW” between solar and wind, “almost 2 GW” in the United States, within a corporate configuration capable of generating returns.
Finally, climate and COP30 in Belém. Commenting on the words of Brazilian president Lula that in order to adjust the climate you would spend less than you spend for wars, he said: “It would be much better to invest in research and development instead of making war. It is difficult not to agree.” But the point for Eni remains operational: to meet the current demand and, in parallel, to accelerate on technologies and investments that make the transition sustainable also in the accounts. Thirty years after the landing on Wall Street, Eni presents itself as an energy platform that holds together markets, finance and energy diplomacy. With a warning: the AI and data centers are multiplying the need; the transition takes time, capital and infrastructure; and without energy accessible growth stops. It is the paradox of our time, which Yergin had grasped and that Descalzi reiterated: the thirst for energy continues to move the world and to dictate its balances.
– Eni press office photos –
(ITALPRESS).
