Powering the transition: leveraging technology, investments, and diverse portfolios
Building an energy system that is both secure and sustainable means looking beyond traditional solutions and investing in a broad, future-oriented mix of resources. In a world where geopolitical tensions and operational risks constantly reshape the energy landscape, resilience relies on diversification, innovation, and long-term vision.
In a panel session titled ‘Leveraging portfolios, investments and technology for a secure and low-carbon energy future’, Claudio Descalzi, CEO of Eni, shared perspectives on how combining diverse assets, innovative technologies, and strategic investments can provide the foundation for an energy transition that is both stable and low in carbon — helping to navigate the challenges of a rapidly changing global context.
Towards a secure and low carbon future
Descalzi emphasised Eni's commitment to oil and gas production while investing in renewables and low-carbon technologies.
He is confident that within ten years renewables can be at the same scale of oil and gas, putting satellite strategy in the centre: “Satellite companies hold a great deal of potential over the next ten years,” he said.
“This journey started in 2012. Our thought was to deliver local and producing what the society needs today, and in categories: developing refineries, developing also renewables, talking about electricity, not immediately for energy cars, but for all kind of industrial sectors and technologies”.
“It’s not fashion, not a trend. We build our portfolio to diversify our industry. It is a way to make money through the transition. Clearly, we want to reduce emissions, but we cannot do that overnight”
- Claudio Descalzi - Ceo of Eni
Building a diverse energy portfolio
“Before the green deal - before everything - we felt that we needed to diversify: so we increased our optionality and diversified from the geographical and geological points of view,” Descalzi explained.
Achieving a secure and low-carbon future requires a broad and forward-looking mix of energy sources. By leveraging diverse assets, companies can better navigate geopolitical uncertainties and operational challenges while supporting a resilient energy system.
Descalzi stressed the importance of being pragmatic: “It’s not fashion, not a trend. We build our portfolio to diversify our industry. It is a way to make money through the transition. Clearly, we want to reduce emissions, but we cannot do that overnight. You have to make something that is affordable, you can’t justify a business otherwise. You cannot do that losing money. You cannot do that forever with subsidies and incentives.”
Focusing on diversification and strategic investment
As the global energy landscape evolves, firms are increasingly prioritising diversification and strategic investments. These approaches not only enhance energy security but also help reduce environmental impact across the supply chain.
Descalzi underlined: “We try to be efficient and find the right technical solutions. You have to select the right technology to select energy but also the right process of extractions, transport and so on. The first thought was to separate in order to align the capital. You need inspiration and money to invest; this means value and resources. We decided in the 90s and the 2000s to grow organically, instead of emanating. So we based everything on our scale.”
The role of integrating technologies
Integrating artificial intelligence, alongside low-carbon innovations like biofuels, carbon capture and storage, and fusion, is key to driving efficiency, resilience, and emissions reduction.
“Artificial intelligence is opening new ways to optimise energy use, while advances in biofuels, carbon capture and storage, and fusion are redefining what a low-carbon future can look like”, remarked Descalzi. “We use gas clearly, but we are going, in the future, in the single phase, to capture this gas. So at the end, we are clean electricity. New electricity that is going to fill the data center,” Descalzi concluded.
