ENI marked its 70th anniversary yesterday with an event in Rome, providing an opportunity to discuss energy and Italian history, as well as the country's future. Taking stock of the previous decade, Claudio Descalzi, the business's administrator, recalled that the corporation had invested "almost 10 billion, revolutionizing the scientific research sector" in its "seven research centers. Obviously, this has been accompanied by industrial transformation, but it has also been accompanied by deep business change"." "We invested to create technologies that were ours, that were not black boxes but structures that we could modify, adapt and improve," said the company's chief executive officer. Concerning the international scenario, Descalzi stated, "Eni's strategy has always been to focus on our gas, what comes from our exploration, developments, and production in reserves that belong to us, and go less and less towards third gas. Russian gas, for example, is a third-party gas because we do not do business in Russia upstream. So, having independence from a third-party provider who is only linked to you by a commercial contract and not by a deeper value chain. We have done so, particularly in Africa, allowing us to form long-term connections while also contributing to the development of the countries in which we invest. This industrial positioning and financial stability enabled us to emerge victorious from significant crises such as the pandemic and, above all, the war in Ukraine and, consequently, the disruption of supplies from Russia".
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