Eni, Sonangol sign MoU on energy transition
Eni and Sonangol will jointly identify and assess opportunities in a number of areas, including agro-industrial supply chains for the production of low-carbon fuels.By Shardul Sharma
Italy’s Eni and Sonangol, the national oil company of Angola, have signed a memorandum of understanding (MoU) to collaborate on energy transition and agribusiness, the Italian company said on May 24.
Under the terms of the MoU, Eni and Sonangol will jointly identify and assess opportunities in a number of areas, including agro-industrial supply chains for the production of low-carbon fuels, valorisation of residual biomass and green ammonia for agro-industrial applications, agribusiness opportunities, energy transition minerals, such as those used in the production of batteries and renewable energies and digital solutions in the fields of energy transition and agribusiness.
Eni has set a target of net zero emissions by 2050, and Sonangol has committed to reducing its greenhouse gas emissions by 30% by 2030. The MoU will help both companies to achieve their decarbonisation goals by working together to develop new technologies and solutions in the areas of energy transition and agribusiness, Eni said.