The CEO of Eni Claudio Descalzi and Chairman of the Board of Directors of Sonangol Sebastião Pai Querido Gaspar Martins have signed in Rome a MOU to further expand the scope of the cooperation between the two companies by developing studies in the agribusiness value chain and in other sectors of decarbonization, including energy transition minerals and innovation ecosystem. The MoU was signed at the presence of the President of Angola João Lourenço and of the Prime Minister of Italy Giorgia Meloni, in the framework of the state visit of President Lourenço to Italy.

See related article: Kenya Airways Operating First Flight From Africa Using Eni Sustainable Mobility’s Aviation Biofuel

Under the terms of the MoU, Eni and Sonangol will jointly identify and assess opportunities in the areas of Energy transition, including agro-industrial supply chains for the production of low carbon fuels, valorization of residual biomass and green ammonia for agro-industrial applications. Also, the companies will evaluate Agribusiness opportunities, with studies to promote synergies between national agricultural food and bio-energies value chains with a focus on improved seeds and biotechnologies, mechanization, fertilizers and logistics services. Other areas of cooperation might include energy transition minerals, such as those used in the production of batteries and renewable energies, and the Innovation ecosystem, including capacity building, assessment and development of innovative technologies and digital solutions in the fields of energy transition and agribusiness also through the support to the environment of start-ups and small medium enterprises.

The Memorandum builds on the good progress of the MoU signed by Eni, Sonangol and Agência Nacional de Petróleo, Gás e Biocombustíveis de Angola in October 2021 to identify cooperation opportunities in the Republic of Angola in the fields of bio-feedstock, and circular economy. The MoU is in line with Sonangol’s decarbonization vision to invest and implement energy projects derived from cleaner sources, and with Eni’s strategy to play a pivotal role in the overall decarbonization process, including by promoting a greater recourse to renewable energy sources and other low carbon energy vectors and technologies, in compliance with the provisions of the Paris Agreement on Climate Change and the Sustainable Development Goals.

ESG News Editorial Team

The ESG News Editorial Team is comprised of veteran financial journalists and sustainability analysts dedicated to providing real-time, objective reporting on global ESG regulations, climate finance, and corporate governance. Our desk monitors daily developments from the SEC, IFRS, CSRD and international regulatory bodies to ensure our 1M+ readers receive accurate, data-driven insights into the evolving sustainable investment landscape. Follow the ESG News Editorial Team for expert reporting on global sustainability standards, ESG disclosures, and climate policy. Access over 10,000 investigative reports and real-time updates.