The Oil and Gas Climate Initiative

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2 The Oil and Gas Climate Initiative Dr. Dominic Emery Interim CEO, OGCI Climate Investments IP Week 2017

3 OGCI Focus Areas IP Week Feb

4 The Multiplier Effect IP Week Feb

5 The future in our hands Energy transition, renewables and the O&G industry Luca Cosentino, EVP Energy Solutions IP Week - London, February 23 rd, 2017

6 The Primary Energy Mix closing the loop 0% 100% 20% 80% 40% 60% 29% 18% Coal 2015 Oil & 2015 gas ENERGY MIX % (IEA 450) % 53% 80% 20%? % 0% 0% 20% 40% 60% 80% 100% Non-fossil 1 Source: Morgan Stanley Research

7 Where are we heading? Energy demand and CO 2 emissions Oil demand and price Stock of electric vehicles 2 Source: International Energy Agency

8 Does the Oil & Gas Industry have the right skills to enter the RES market? O&G competitive skills Global presence and large portfolio of industrial assets Relationship and reputation in host countries Know-how in managing complex and hybrid projects Excellence in R&D Multiple and flexible financial levers 3

9 Renewable energy, our history PRAGMA start-up (100% Agip) Mission R&D Production and sales of photovoltaic systems Early small scale photovoltaic installations (1-5 kw) Solar village in China solar PV plants in Inner Mongolia Industrial scale installations (1-5 MW) and connection to national grid (Enipower) First Eni Green Refinery Conversion of Venice refinery Acquisition of Nettuno plant Solar cells production line Strategic partnership Eni-MIT Innovative development technologies including new generation solar Acquisition of Nuon Wind Onshore wind (4.5 MW) Creation of new Direction ENERGY SOLUTIONS (DES) Enipower starting photovoltaic business Acquisition of Nettuno plant and Management of all Eni power plants 4

10 Renewable energy, our present Solar Energy - Polymeric and paper like cells Low cost organic PV on flexible substrate for portable devices Waste to Fuel Second and third generation biofuels from organic fraction of urban solid waste Solar Energy - PV windows Luminescent Solar Concentrators (LSC), for residential building integration Renewable Energy Energy storage Flow batteries applications 5 Solar Energy CSP A new, proprietary, cost-effective technology for solar energy conversion Utility-scale renewables and hybrid solutions Hybrid systems among different renewables sources and gas plants

11 Renewable energy, our tools Commercial agreements Ghana: Eni and the Savannah Accelerated Development Authority (SADA) signed on November 9 th a Memorandum of Understanding for the joint evaluation of development opportunities in the renewable energy sector. Algeria: Eni and Sonatrach reached on November 25 th an agreement in the upstream and midstream sectors, extending the partnership to new segments of the energy sector, including renewables energy. Tunisia: Eni signed on November 30 th a cooperation agreement for the development of projects generating energy from renewable sources with the state company Entreprise Tunisienne d'activités Pétrolières (ETAP). Industrial partnership Eni and General Electric recently finalized a cooperation agreement for the joint evaluation and development of renewable energy projects, both brownfield and greenfield, involving a wide spectrum of possible technological solutions. In December 2016, Eni and Terna signed an MoU for the evaluation of opportunities for the development of energy systems with a focus on sustainability and renewables. Research partnership In January 2017, Eni and MIT renewed their 9-year collaboration for another 4 years. The agreement includes a research support of MITEI s Low-Carbon Energy Centers for addressing climate change, solar, energy storage, and CCS/U. 6

12 Renewable energy, our current portfolio ASSEMINI (ITALY) Brownfield: Assemini s industrial site, CSP technology PROGETTO ITALIA Brownfield: Phase 1, 70 MWp in 5 PV plants, with ~70 M of investment Brownfield: Phase 2, 150 MWp in 9 PV plants with ~150 M of investment TUNISIA Brownfield: solar PV plant for the Oued Zar oil field PAKISTAN Greenfield: 50 MWp solar PV plant ALGERIA Brownfield: 10 MWp solar PV plant for the BRN oil field Brownfield: large-scale solar PV plants supporting O&G operations GHANA Greenfield: Onshore, 20 to 50 MWp solar PV plant Greenfield: Floating PV, 5 MWp solar PV plant EGYPT Brownfield: 50 MWp solar PV plant for the Belaym Oil field 7

13 Renewable energy, our vision Guidelines Significant growth of installed capacity Technology neutral, with focus on hybrid projects Technological and geographycal sinergy with other Eni business lines RENEWABLE CAPACITY GROWTH by MW TECHNOLOGY MW GEOGRAPHICAL AREAS Solar PV CSP Wind Waste Studies & other Italy OECD Non-OECD 9

14 9 Thank you for your attention

15 ACHIEVING A DECARBONISED WORLD THROUGH TECHNOLOGY AND INNOVATION International Petroleum Week DIDIER HOUSSIN CHAIRMAN AND CEO IFP ENERGIES NOUVELLES 1

16 KEY TECHNOLOGIES FOR A DECARBONISED WORLD BY 2050 N E W E N E R G I E S In 2050, total yearly avoided emissions represent 40 GtCO 2 Power supply wedges Demand-side wedges Source : Ancre I F P E N Deep Decarbonization Pathways Project

17 DIFFERENT PATHWAYS FOR EACH COUNTRY TYPE N E W E N E R G I E S HCIC: High Carbon Industrialised Countries MCEC: Medium Carbon Emerging Countries LCIC: Low Carbon Industrialised Countries LCEC: Low Carbon Emerging Countries I F P E N Source : Ancre Deep Decarbonization Pathways Project

18 CONTRIBUTION OF TECHNOLOGIES BY COUNTRY TYPE N E W E N E R G I E S Emerging Countries MCEC HCIC Industrialised Countries LCEC I F P E N LCIC Source : Ancre Deep Decarbonization PathwaysProject

19 A SIGNIFICANT INCREASE IN DECARBONIZED ELECTRICITY N E W E N E R G I E S By 2050, at World Scale : Electricity production x 2,5-55% renewable sources of which 36% intermittent energy. -21% nuclear power Source : Ancre I F P E N Deep Decarbonization Pathways Project

20 IDENTIFYING THE BOTTLENECKS N E W E N E R G I E S Source: ANCRE Note: this table lists technologies according to the three most significant bottlenecks; in dark blue= major bottlenecks (ranks 1 & 2), blue = important bottleneck (rank 3) Source : Ancre I F P E N Deep Decarbonization Pathways Project

21 INVESTMENT IN RENEWABLE ENERGIES N E W E N E R G I E S Renewables: around 300 Bn$ since Bn$ needed between 2016/2030 (Irena) R&D Investment in renewable energies (world in Bn$) Source: IFPEN/Reuters/Bloomberg Source: Bloomberg,IEA, IMF, various government agencies I F P E N

22 CO 2 TAX IN THE UK : IMPACT ON ELECTRICITY GENERATION T R A N S I T I O N É N E R G É T I Q U E É N E R G I E S N O U V E L L E S Fuel Used in electricity generation United Kingdom % of total Start of CO 2 tax CO 2 tax in UK: 4 /ton in 2013 up to 22 /ton in 2015 Source : DECC I F P E N

23 ELECTRIC VEHICLES : EFFECT ON DEMAND FOR OIL IN TRANSPORT T R A N S I T I O N É N E R G É T I Q U E É N E R G I E S N O U V E L L E S Electric Vehicle Development Scenario Millions of vehicles Mboed - 2 Mboed Impact on oil consumption in 2040 (IFPEN calculations) AIE WEO Bloomberg I F P E N Sources : IEA, Bloomberg

24 DEVELOPING INNOVATIONS MOBILITY NEW ENERGIES OIL AND GAS High-efficiency IC powertrains, vehicle electrification and connectivity, emission reduction Biofuels, bio-based chemistry, ocean energies and offshore wind power, energy storage, circular economy Optimization of production and recovery, produced water management, environmentally-friendly fuel and chemical intermediate processes Fundamental research, the bedrock for the development of our innovations I F P E N