// ADVOCACY eni
How energy is redefining Europe’s global role
Europe must embrace flexible partnerships, resilient industrial strategies and economically viable decarbonisation to remain competitive in a fractured world
Interview with Claudio Descalzi, CEO, Eni
Q: Are we witnessing the end of globalisation as we once knew it? A: We’ve been living through the grad- ual erosion of the globalisation model that had, in truth, been faltering for some time. This hasn’t happened overnight. We’ve seen the rise of pro- tectionist measures like tariffs, but these are only symptoms of a much deeper reordering of the global econ- omy. The energy sector is at the heart of this shift: it doesn’t just reflect broader geopolitical and economic tensions— it shapes them. Growing fragmentation has steadily undermined confidence in a global value chain model driven by cooperation and multilateralism, exposing some countries and regions to strategic vulnerabilities. Q: Where does this leave Europe? A: For decades Europe has prioritised policies and targets over pragmatism
and resilience—and now it’s facing the consequences. From the energy per- spective, first the pandemic, then the war in Ukraine exposed just how frag- ile that model was. And it’s not just gas—today, the same risk exists in critical materials and technologies, almost entirely controlled by China. If we don’t diversify now, we’ll face the same vulnerabilities in the next crisis. These energy security concerns are increasingly intertwined with grow- ing challenges regarding economic sustainability and competitiveness. Europe, which over the past two dec- ades has embraced globalisation by offshoring its primary and secondary sectors while focusing on developing services domestically, is now contend- ing with stagnating growth, industrial decline, and a loss of competitiveness. And in Europe, where energy prices are among the highest in the world, costs
Technology at the heart of Eni's strategy. Eni has integrated supercomputing across the entire value chain of its businesses, turning it into one of the key drivers for achieving Net Zero by 2050
have become a real burden on com- petitiveness. What we’re seeing isn’t just disruption—it’s a chance to reset Europe’s direction. These global shifts are pushing us to rethink our industrial and economic priorities, putting energy security, competitiveness, and sustain- ability at the core. This is no longer the time for ideological debates. What we need is to strengthen our historical alli- ances, modernise them, and build new, strategic partnerships. The way forward is clear: pragmatic energy policies that turn today’s challenges into real oppor- tunities for long-term competitiveness.
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// G7 CANADA: THE KANANASKIS SUMMIT 2025
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