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Eni signs strategic agreements with Kazakh companies during the visit of the President of Kazakhstan to Italy

The CEO of Eni, Claudio Descalzi, and the President of the Board of Directors of KazMunayGas (KMG), Magzum Mirzagaliyev, signed an agreement today in Rome relating to the innovative hybrid gas-renewable power plant project of 250 MW in the city of Zhanaozen, Mangystau region, Kazakhstan. The signing took place on the occasion of the official visit of the President of the Republic of Kazakhstan, Kassym Jomart Tokayev, to Italy.

Eni and KMG have confirmed their willingness to proceed to the implementation phase of the project, which will provide KMG plants with stable, low-carbon electricity produced from solar and wind energy, and will be balanced with additional capacity from a gas-fired power plant. The project leverages Eni’s international industrial expertise and paves the way for the hybrid combination of state-of-the-art renewable power plants, developed by Eni subsidiary Plenitude in collaboration with KMG, and gas-fired power plants with balancing function.

Eni also signed a Memorandum of Cooperation with the Samruk-Kazyna (SK) Sovereign Fund on further projects in the field of energy transition, including the potential replication of the hybrid gas-renewable power plant model in other regions of Kazakhstan, as well as the evaluation of mineral initiatives and the development of other technologies to reduce carbon emissions.

Finally, Eni signed a Strategic Cooperation Agreement with the national gas company of Kazakhstan, QazaqGaz (SK portfolio company), focused on the exchange of experiences between scientific, technical and research centers to develop technological innovations and train human capital, with the aim of reducing carbon emissions in gas industry operations.

Eni has been present in Kazakhstan since 1992, where it is joint operator of the Karachaganak field and equity partner in several projects in the Northern Caspian Sea, including the Kashagan offshore field. Eni is also joint operator, with KMG, in the Abay exploration block. Eni operates in the renewables sector in Kazakhstan through Arm Wind, a subsidiary of Plenitude, with a total installed capacity of 150 MW.

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