Eni creates new company to run biofuels

Eni has incorporated a vertically integrated biofuels company to oversee its sustainable mobility operations, the Italian energy giant announced on Monday.

Eni Sustainable Mobility will head the parent company’s biorefining and biomethane assets and sale of related products.

Eni’s existing biofuels facilities include biorefineries in Venice and Gela, Italy. The company will also oversee the company’s upcoming developments, including the possibility of a facility in Livorno, Italy, and a biorefinery at the Pengerang petrochemicals complex in Malaysia.

Additionally, the new vertical will incorporate a network of more than 5,000 sales points in Europe that market to energy distributors, including those working with hydrogen, biomethane, hydrogenated vegetable oils and other mobility products such as bitumen and lubricants.

The energy giant currently produces 1.1 million tonnes per year of biofuels, including biomethane, biodiesel, bio-LPG and bio-naphtha. Eni has set targets to up production of biofuels to 2 million tonnes per year by 2025 and 6 million tonnes per year in the 2030s.

Eni is positioning Eni Sustainable Mobility next to its existing low-carbon and renewable energy business Plenitude as the second lever in its energy transition efforts.