Eni and Mercuria have signed an agreement to establish a joint venture designed to oversee energy commodities trading across global markets, marking a significant expansion in both companies’ trading ambitions.
The venture will be equally owned by the two partners and structured as an independent, unconsolidated entity operating through a holding company with international trading hubs, giving it a broad global footprint. It will handle a wide range of commercialization and trading activities, including oil, biofuels, gas, LNG, as well as related logistics and infrastructure rights.
Stefano Pujatti, Director, Global Trading, Eni, stated: “The strategic rationale of this joint venture is to expand our trading footprint, enhance profitability for both partners, and generate long-term value through operational efficiency and robust risk management.”
Marco Dunand, Chief Executive Officer of Mercuria, said, "This partnership brings together two highly complementary organizations with a shared long-term vision for energy markets.
"By integrating physical energy flows with world-class trading, logistics and risk management capabilities, we will create a more agile and efficient platform that maximizes value across the supply chain. Together, we will be better positioned to serve customers, optimize assets and navigate increasingly dynamic global energy markets."
Both companies said the partnership is expected to unlock significant growth opportunities by creating synergies, leveraging asset portfolios, and combining trading expertise to build a leading global player in energy trading.
The move forms part of Eni’s broader strategy to evolve its portfolio and trading model, aimed at improving asset management, accelerating cash flow from trading activities, and capturing more value across the energy value chain. The company also highlighted that the partnership strengthens its capabilities through collaboration with a major global trading player such as Mercuria.
The companies emphasized that the new trading model goes beyond scale, focusing on agility, flexibility, and a more dynamic global approach that integrates physical asset optimization with advanced trading capabilities.
