ADQ & Eni partner to secure critical minerals supply for energy transition

Photo: Abu Dhabi Media Office

ADQ has signed an important agreement with Eni, a well-known energy technology company based in Rome, Italy. This partnership aims to strengthen the supply of critical minerals needed for the world’s shift to cleaner energy. By working together, ADQ and Eni will explore strategic opportunities to make the supply chains for these minerals more secure and reliable.

Focus on Key Regions and Investments

The collaboration will focus on investing in regions such as Africa, North America, and Central Asia. These areas hold valuable minerals that are essential for producing clean energy technologies. Both companies will explore different ways to work together across the entire supply chain, from mining the minerals to refining, processing, and using them in advanced applications.

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One of the key goals of this agreement is to study the possibility of setting up refining and processing plants in the UAE, Italy, and other important locations. This would help in making the supply chain more efficient and ensure a steady flow of these materials.

Rising Demand for Critical Minerals

As more countries invest in clean energy, the demand for critical minerals is increasing rapidly. The International Energy Agency estimates that by 2050, the need for these minerals could grow six times higher than today. Minerals like lithium, cobalt, nickel, and rare earth elements are essential for making electric vehicles, wind turbines, solar panels, and energy storage systems.

Statements from ADQ and Eni Leaders

Hamad Al Hammadi, Deputy Group Chief Executive Officer of ADQ, highlighted the importance of this partnership. He said, “The world is moving towards cleaner energy, and securing a stable supply of critical minerals is necessary for this change. By working with Eni, we will use our knowledge and resources to develop important projects that will ensure these minerals are available and affordable. Our goal is to create long-term value for our companies and the economies we support.”

Claudio Descalzi, Chief Executive Officer of Eni S.p.A, also spoke about the significance of this agreement. He stated, “This partnership with ADQ is part of our strong relationship with the UAE. It reflects our shared goal of creating a sustainable energy future through innovation and cooperation. By working with leading UAE companies, we will take part in projects that are vital for the energy transition. This agreement shows our commitment to technological progress and global energy security.”

Eni’s Role in Energy Transition

Eni operates in 62 countries and plays a major role in ensuring energy security while leading the transition to clean energy. The company aims to become carbon-neutral by 2050 by reducing emissions from its operations and the products it sells. To achieve this, Eni invests in research and new technologies that can speed up the shift to more sustainable energy solutions.

ADQ’s Growing Investments in the Sector

ADQ’s agreement with Eni adds to its existing investments in the minerals sector. One example is Orion Abu Dhabi, a joint venture between ADQ and Orion Resource Partners. Orion is a global investment firm that focuses on metals and materials necessary for economic growth and clean energy development.

Through this partnership, ADQ and Eni are taking an important step toward securing the resources needed for a cleaner and more sustainable future.