Italy’s Largest Oil Company Finds New Profit Source: Selling Clean Energy to Artificial Intelligence Yields Nearly as Much as Oil

With New Units Focused on Green Artificial Intelligence and CO₂ Storage, Eni Reinforces Its Energy Transition and Bets on the Profitability of Sustainable Businesses in the Coming Years

The Italian company Eni is expanding its operations in the energy sector with a focus on sustainable technologies. The company announced the creation of two new businesses dedicated to green artificial intelligence and carbon dioxide emission capture, according to information from the Reuters agency.

The new fronts join other initiatives from the company, such as Plenitude, focused on renewable energies, and Enilive, specialized in biofuels.

Diversification Focused on the Future

Eni’s strategy shows a movement toward diversifying the traditional business model of oil companies. The company’s expectation is that, in the next five years, its sustainable businesses will achieve double-digit profitability.

According to estimates published by the Financial Times, the results are expected to be on par with those of the conventional oil and gas sector, which records performance between 15% and 16%.

Supercomputing for the Environment

One of the highlights of Eni’s operations is its innovation center located in northern Italy. There, the company operates the HPC5, considered the most powerful supercomputer in the energy sector.

The equipment is used to develop solutions with artificial intelligence and operates with low-emission energy, in conjunction with a power plant and a carbon capture facility.

The company also intends to offer its processing capacity to companies that develop artificial intelligence models. The proposal is to attract companies looking to reduce the environmental footprint of their computational systems.

Advances in Carbon Capture

In the area of carbon capture and storage (CCS), Eni is making progress with robust projects. The company already has nearly three gigatons of CO₂ storage capacity.

One example is HyNet North West, in the United Kingdom, a project aimed at capturing industrial emissions and subsequently storing them in the Irish Sea.

International Partnership in the Gas Market

In addition, Eni is eyeing new partnerships in the natural gas market. With Malaysian company Petronas, the company plans to create a joint venture to combine its exploration fields.

The goal is to achieve a production equivalent to 500,000 barrels of oil per day, directed especially at the Asian market, including China and India.

The joint production is expected to represent about half of Eni’s current natural gas production, reinforcing its global presence in the sector.

With information from Xataka.

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