Italian energy giant ENI eyes more bioenergy opportunities in Vietnam

Vietnam wishes to see Italian group ENI expand its investment and partnerships with domestic stakeholders in line with the country's green transition, particularly in the area of carbon capture, utilization and storage (CCUS), said Deputy Minister of Industry and Trade Nguyen Hoang Long.

CCUS is a key focus for Vietnam, which is actively developing its legal framework and technical infrastructure in this field, Long noted at a recent working session with senior leaders of the San Donato-headquartered firm in Milan during his working trip to Italy.

He emphasized that with its technical capacity and international experience, ENI could play a key role in sharing business models, transferring technology, and collaborating with Vietnamese partners to implement pilot projects on CCUS and sustainable aviation fuel (SAF).

In response, ENI representatives said their group has strong interest in the Vietnamese market and appreciates the Vietnamese government’s firm commitment to green economic development.

They stressed their desire to expand strategic cooperation in the bioenergy sector, especially through programs that utilize agricultural and forestry by-products such as used cooking oil, cashew shell oil, and oil-bearing crops.

ENI is assessing the feasibility of expanding processing and collection models in Vietnam as an important link in the group’s global supply chain, they added.

The two sides discussed potential areas of cooperation, particularly in energy transition, biofuel development, and CCUS.

ENI's leadership highly valued its traditional oil and gas exploration and production cooperation with state-run Petrovietnam.

Long commended ENI’s long-term commitment and technological innovation efforts in Vietnam, especially through the establishment of ENI Natural Energies Vietnam Co., Ltd. in 2024 to implement the biofuel and carbon credit value chain.

He affirmed that the Ministry of Industry and Trade is always ready to support and connect ENI with domestic agencies and partners, thereby helping to promote the implementation of specific projects aligned with Vietnam’s clean and sustainable energy development strategy.