• Sat. Oct 16th, 2021

Descalzi: “In the last 5 years Eni has invested 5 billion in scientific research”


Oct 14, 2021

Scientific research is at the heart of Eni’s strategy: “in the last 5 years we have invested 5 billion euros in scientific research”. This was stated, during his speech at the Eni Award ceremony at the Quirinale, by Eni’s CEO, Claudio Descalzi. “Scientific research – he continues – must have an eye on new technologies but also get to make sure that we arrive at a just transition. Today we reward researchers who are giving something to others, thinking about the future of humanity”, he explains. the CEO of Eni. Energy prices will not remain at those levels “because they are extremely high” but they will remain high also because “we are in a situation where supply is lower than demand”. “Prices – underlines the CEO of the energy group – will not remain at these levels because the levels we now have are extremely high and we are unable to keep them. 350 per year and this has started since 2015 we are in a physical situation of supply that is lower than the demand and this is also seen in oil because the annual demand is now close to 98-99 million days and the supply is lower at 95 -96. The demand will rise even more and even if OPEC were to release all the production that it has still blocked and it should happen – I don’t know what they will decide – perhaps in the middle or during the first quarter of 2022 there will still be from the point from a physical point of view, there is a gap between supply and demand and therefore this is quite structural “, In gas, he explains,” I don’t see big investments now, I don’t see big productions. We know who has gas that can release gas. In North Africa there is however, investments are needed in Sub-Saharan Africa, there is in the Far East, in Russia there is absolutely because it is the first producer certainly via pipeline but also in the Lng. So we will see but I think it is not something that is resolved in a very short time. The large quantities of gas will enter when Qatar finalizes the first phase “of its great liquefied natural gas project”, 34-35 million tons per year LNG seems to me. At that moment when it will happen I don’t know 2026-27 or 28 at that moment there will be an entry of volumes and the only way to calm down and lower the price. What I say is trivial but we need these productions “.” Italy is certainly in a privileged position because it has very diversified access to gas. There is not only gas that comes from the north – underlined Descalzi – but we also have gas that comes from North Africa, Algeria, Libya and which also comes from the Lng, for example, that which comes from Damietta or Angola or from Nigeria. So let’s say that the problem I don’t think for Italy will be that we won’t have gas.