Giuseppe Ricci on Eni’s Transformation: From Refineries to Energy Parks

Giuseppe Ricci, Industrial Transformation COO at Eni, outlines how traditional refineries will evolve into energy parks that balance energy security with decarbonisation. He highlights Eni’s milestones—from pioneering biorefineries in Venice and Gela to international SAF and recycling projects—and stresses the central role of biofuels, hydrogen, and carbon capture in the transition.

Ricci also calls for pragmatic EU policies and stronger cross-industry collaboration to scale low-carbon technologies, safeguard jobs, and ensure a socially sustainable pathway to net zero.

How do you see the role of traditional refineries evolving over the next decade as Europe accelerates its transition to a low-carbon economy?

Traditional refineries will continue to play an essential role in the short- to medium-term to ensure continuous fossil fuel supply, critical for energy security during the multi-decade transition toward net-zero.

Fossil fuel demand is expected to decline progressively, driven by the uptake of low-carbon fuels, electrification of vehicles, and continuous improvements in engine efficiency.

Accordingly, refining capacity must be gradually scaled down to maintain a balanced supply–demand dynamic and avoid market disruptions, price spikes, or fuel shortages. Therefore, the reduction of capacity must be driven and supported with planned transformation projects that take advantage of existing infrastructures and high level of skill of the people enabling smoother adaptations and preserving industrial resilience.

The transformation of an industrial site requires reskilling and increasing the skills of local companies in order to structure a new production chain. Industrial transformation only works if it becomes a shared project, if it brings tangible benefits to the community

ENI has been at the forefront of industrial transformation, particularly in circular economy and decarbonisation pathways. What are the most significant milestones or projects that you believe will define ENI’s downstream journey in the coming years?

Over the past decade, Eni has undertaken a deep industrial transformation, shifting from traditional downstream activities in structural decline towards bio-based, circular, and low-carbon solutions.

This strategy combines environmental, economic, and social sustainability, repurposing existing assets while safeguarding local jobs and industrial know-how.

The Venice refinery’s conversion into a biorefinery was the first pioneering step, proving Eni’s technological capability and setting a model for renewable biofuel production with lower emissions.

The Matrica biochemical plant in Porto Torres further demonstrated diversification into sustainable chemicals. These experiences paved the way for the Gela biorefinery, which produces up to 400,000 tons per year of Sustainable Aviation Fuel (SAF), potentially covering almost one-third of Europe’s demand in the near future.

Eni also promotes international collaboration. In Louisiana, through Enilive, it partnered with PBF Energy to establish St. Bernard Renewables (SBR), while in Italy the Livorno conversion project—supported by €500 million from the European Investment Bank—will host a 500,000 t/y Ecofining™ plant. Similar biorefinery initiatives are advancing in Malaysia and South Korea.

Beyond fuels, Eni’s subsidiary Versalis drives circular chemistry. The Hoop® pilot plant in Mantua uses proprietary technology to chemically recycle mixed plastic waste into feedstock for virgin-quality polymers, with industrial scale-up planned in Priolo. In March 2025, Porto Marghera inaugurated a new mechanical recycling plant for plastics with an annual capacity of 20 kt, partly using recycled raw materials.

Looking ahead, Eni’s downstream strategy focuses on scaling biorefining capacity, expanding SAF production, integrating chemical recycling technologies, and developing bio and circular products through Versalis and Novamont. These initiatives are central to Eni’s decarbonisation pathway, ensuring a profitable and socially responsible transition aligned with future energy needs.

Which technologies do you consider most critical for enabling a low-carbon, competitive downstream sector—whether in biofuels, hydrogen, carbon capture, or digitalisation? 

Renewables biofuels are central to building a low-carbon, competitive downstream sector. Full electrification of transport, while advancing, remains unfeasible for segments like heavy-duty road transport, maritime shipping, and aviation, which require high energy density fuels. Biofuels offer an immediate solution, enabling significant reductions in greenhouse gas emissions.

One of the key advantages is that renewable biofuels can be produced by converting traditional refineries into biorefineries. Each transformation removes about 100,000 barrels per day of fossil fuel capacity while adding around 10,000 barrels per day of biofuel production.

This approach simultaneously delivers sustainable fuels, restores profitability, reuses infrastructure, retains skilled jobs, and balances supply in a declining fossil market.

Looking further ahead, hydrogen and carbon capture will be crucial for decarbonising hard-to-abate sectors. Green and low-carbon hydrogen can support the production of e-fuels, which, alongside biofuels, will supply aviation, shipping, and heavy-duty transport.

I’m also confident that green and low-carbon hydrogen in long term could enable the production of e-fuels in a convenient way, especially if we will be able to transform, step by step, existing refineries infrastructure. E-fuels could be in the long term complementary to biofuel in order to assure the supply of energy vectors for the hard to abate sectors, as aviation, shipping and heavy duty that certainly cannot be decarbonized by electrification alone. Carbon Capture, Utilization and Storage (CCUS) will allow CO₂ to be recycled into e-fuels or stored safely underground, helping close the carbon loop.

Scaling these technologies requires overcoming barriers. Green hydrogen must become far cheaper, while CCUS needs to improve in competitiveness and deployment. Regulatory frameworks should evolve pragmatically: restrictive requirements—such as relying only on CO₂ from direct air capture or exclusively green hydrogen—may hinder early-stage deployment.

A phased approach is essential to support innovation while delivering on decarbonisation goals.

Finally, digitalization underpins the transition. Tools such as digital twins, advanced analytics, and high-performance computing optimize operations, enhance efficiency, and cut emissions across biorefineries, hydrogen plants, and carbon capture facilities.

In summary, biofuels are only one important piece of the puzzle. Looking further ahead, hydrogen and carbon capture technologies will play a certain role in the decarbonization of hard to abate sectors of transport. and digitalization ensures these solutions are implemented efficiently and competitively.

Together, they will define a downstream sector that is low-carbon, resilient, and aligned with net-zero ambitions.

The energy transition requires unprecedented collaboration between refiners, technology providers, and policymakers. What role do you see for partnerships across industries in achieving shared decarbonisation goals?

Teamwork is crucial in any transformation pathway. Looking at our experience with biofuels, we’ve seen how collaboration between different stakeholders, such as fuel producers, technology licensors, industry partners and policymakers have been essential.

In the case of Ecofining, our technology became robust and flexible because of the synergies between UOP and refiners, and even today, we continue to work together to further improve performance. This kind of synergy is key to addressing global challenges like transport decarbonisation.

Biofuels, as we have seen, offer significant advantages for the sustainability of the transport sector, both from an environmental and an economic standpoint. However, in order to fully realize these benefits, it’s crucial to have active support from policymakers.

Public policies need to evolve towards a future that includes biofuels as part of the solution, and this requires a clear regulatory framework that encourages innovation and investments. Unfortunately, in the past, there has been some delay in recognizing the potential of biofuels as a viable solution. It’s essential that policies evolve to promote existing technologies, like Ecofining, that can truly make a difference.

Until a few years ago, for example, in automotive sector, full electrification was viewed as the primary pathway to decarbonising the transport sector. Recently, however, this position appears to be evolving, partly in response to the increasing presence of low-cost Chinese electric vehicles on the market. While this shift reflects a changing global landscape, it also highlights the importance—recognised for over a decade—of developing an integrated, multi-technology approach to decarbonisation.

Today, we have to work to built stronger partnerships and a shared vision capable of driving Europe toward a more sustainable and resilient transport future.

If we work together, we can not only meet decarbonisation targets but do so in a way that is economically and socially sustainable, while creating new growth opportunities.

With Europe leading in regulatory frameworks such as Fit-for-55 and RePowerEU, how do you see policy developments shaping the investment and innovation landscape for refiners?

Today, the European Union is at a crucial crossroads in its approach to decarbonisation. While the ambition of the green transition is commendable, the current approach is often too rigid and ideological. To achieve real progress, the EU must embrace pragmatism, focusing on technology neutrality and supporting a wide range of solutions rather than relying on a single pathway. 

One area requiring urgent reconsideration is the 2035 ban on internal combustion engine (ICE) vehicles. Such restrictive measures risk limiting innovation by excluding transitional options like blue hydrogen, produced with carbon capture and storage (CCS). These technologies could play a vital role in decarbonising sectors that cannot be fully electrified, such as heavy transport and industry. A flexible framework that allows diverse technologies—electric vehicles, biofuels, hydrogen, CCS—to coexist and evolve is key to both efficiency and effectiveness. 

Decarbonisation also carries costs, ultimately borne by society. Strategies must therefore maximize economic efficiency, minimize impacts on competitiveness, and protect employment. If climate goals are pursued without considering social and industrial realities, the transition risks losing public support, particularly if companies close and jobs are lost due to ideological constraints. 

The refining sector exemplifies the value of technological expertise and adaptability. Over decades, it has developed know-how that can be leveraged to advance low-carbon solutions and integrate new technologies. Recognizing the refining industry as a strategic partner would help accelerate innovation and scale-up. 

For success, collaboration across the value chain is essential. Policymakers, technology providers, and industries must work together to build an ecosystem that encourages innovation, balances costs, and delivers environmental, social, and economic benefits. With a more open and pragmatic strategy, Europe can reach its decarbonisation goals faster and more effectively, ensuring resilience, competitiveness, and social acceptance.

Looking ahead to 2030, what is your vision for ENI’s Energy Parks and their role in supporting both Europe’s energy security and climate ambitions?

Eni’s strategy is rooted in the concept of integrated sustainability, aiming for a balanced energy transition that considers environmental, economic, and social dimensions. This approach ensures that immediate energy needs are met while progressively shifting towards low-carbon alternatives. Eni follows a dual path: continuing to supply traditional energy today while rapidly expanding low-carbon products for the future.

The company has set a clear path toward carbon neutrality by 2050, with interim milestones for Scope 1, 2, and 3 emissions reductions: -35% by 2030, -55% by 2035, and -80% by 2040 (compared with 2018 levels).

Plenitude, Eni’s subsidiary for renewable energy and services, exemplifies this commitment. Plenitude, dedicated to the generation pf electricity from renewable sources and energy services, has already installed over 4 GW of renewable capacity, with targets of 10 GW by 2028 and 15 GW by 2030. Plenitude serves more than 10 million customers and operates over 21,000 EV charging points across Europe.

Enilive, dedicated to mobility products and services, is a global leader in HVO (Hydrogenated Vegetable Oil) biofuels. In 2024, its biorefining capacity reached 1.65 Mton, with plans to exceed 5 Mton/y by 2030, including up to 2 Mton of SAF (Sustainable Aviation Fuel), depending on market demand. Around 20% of global production by 2030 will come from its integrated agri-hub supply chain, using feedstock, waste, and residues.

A further cornerstone of Eni’s decarbonisation plan is carbon capture and storage (CCS). This mature technology is key for reducing emissions from hard-to-abate sectors and Eni’s own operations. The company aims to achieve a gross CO₂ reinjection capacity of over 15 Mton/y before 2030, rising to more than 40 Mton/y after 2030, and surpassing 60 Mton/y beyond 2050.

Eni's vision for the future is the integration of renewables, traditional energy, and low-carbon technologies, proving that sustainable operations and innovation can advance together.