“What we need is to strengthen our historical alliances, modernise them, and build new, strategic partnerships. The way forward is clear: pragmatic energy policies that turn today’s challenges into real opportunities”
Q: That would seem to require a major shift. Is it really feasible? A: First and foremost, we must address the complex bureaucratic apparatus within the European Union. For years, this system has translated political decisions into cumbersome regula- tions. Governments are left to interpret and apply complex decisions, while businesses are expected to invest time, capital, and resources to make them work. In energy, we need a truly shared vision—one that reflects Europe’s diverse realities. Europe is a collective of diverse countries, each with different levels of economic and industrial devel- opment, different energy mixes which drive differences in energy prices, distinct demand profiles, and heteroge- neous industrial strategies. Managing this diversity requires pragmatic com- promise and flexibility, prioritisation of available technology solutions, and a deep understanding of differ- ing national interests—like assembling a vast and intricate mosaic. Europe needs to break away from rigid, one- size-fits-all regulations and embrace a more flexible, cooperative model—one that fosters innovation while deliv- ering on climate and energy security goals. Regulation can’t be an obsta- cle; it has to be an enabler. We've seen it work. In the UK, our Liverpool Bay CCS project shows how the regulatory framework can unlock investment and create value around low-carbon tech- nologies. It’s proof that when regulation supports innovation, new markets can grow, emissions can fall, and value can be shared across the system. That’s the direction Europe needs to take. Q: You mention Europe’s priorities as security, competitiveness, and the environment. Are they meant to be pursued in that order? A: These priorities aren’t sequen- tial—they’re interdependent. Energy security, competitiveness, and sustain- ability must move together, or none of them will hold. What we’re starting to see in Europe is a shift from slogans to realism. There’s a growing under- standing that the energy transition cannot—and must not—undermine industrial strength. Industry isn’t optional; it’s the backbone of pro- gress. Without it, innovation remains
theory. Whether we’re talking about CCS, biofuels, solar or wind, these tech- nologies only scale if they’re built on a solid industrial foundation—with the right infrastructure, skills, and produc- tion capacity. To remain competitive, we need a transition strategy that safe- guards industry and supports the technologies we can deploy quickly and effectively. At the same time, we must create space for breakthrough solutions to emerge over time. And one principle must be non-negotiable: decarbonisa- tion has to be economically viable. It must attract private capital, not rely on endless public subsidies. That requires a regulatory environment that enables investment and gives companies the freedom to lead the transition through sustainable, resilient business models. Q: Does Europe truly have the tools to deliver all of this? A: Europe is facing structural con- straints, but it still has what it takes—capital, technology, and know- how. What’s missing is the ability to turn these assets into foundational partnerships, built not on depend- ency but on shared value. Energy can be a powerful tool for cooperation— if managed with long-term vision and competence. That’s exactly the approach we’ve followed at Eni. In the Eastern Mediterranean, we’ve con- nected Cyprus and Egypt through our infrastructure to develop gas resources that benefit both. In South- east Asia, we’ve brought Indonesia and Malaysia together to unlock shared natural gas potential and help phase out coal. These aren’t one-off deals— they’re examples of how energy, when approached pragmatically, creates stable, forward-looking relationships where none existed before. Energy can cause imbalances when it’s driven by short-term logic. But if we manage it well—anchored in industrial capabil- ity and mutual interest—it becomes a driver of resilience, development, and global stability.
// CLAUDIO DESCALZI Claudio Descalzi has been the CEO of Eni, a global energy tech company operating in over 65 countries, since May 2014.
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