Eni Joins with Mercuria to Expand Energy Trading Ventures
Eni, the Italian energy firm, has announced a new joint venture with Mercuria, a leading global commodity trader, aimed at boosting profits from energy commodity trading. The partnership was formalized on Wednesday and represents an equal ownership arrangement between the two companies.
This joint venture is set to operate independently through a holding structure, leveraging international trading hubs to engage in the commercialization and trading of a variety of energy commodities. The scope includes oil, biofuels, natural gas, liquefied natural gas (LNG), as well as related logistics and infrastructure rights, as detailed by Eni.
Stefano Pujatti, Director of Global Trading at Eni, highlighted the strategic objectives of the cooperation. He explained that the venture aims to broaden their trading presence, enhance profitability for both companies, and build long-term value through improved operational efficiency and sound risk management practices.
Earlier in 2026, Eni’s CEO Claudio Descalzi had indicated the company’s intent to re-enter commodity trading through a partnership model. This comes after European energy giants such as BP, Shell, and TotalEnergies have seen significant trading profit increases due to volatile global markets since 2022.
Descalzi observed that while Eni discontinued its trading activities in 2019, other major firms have maintained strong trading desks that generate substantial revenue. He acknowledged trading is not traditionally central to Eni’s operations and emphasized the importance of partnering to successfully manage the complexities of energy trading.
The joint venture with Mercuria is currently subject to customary regulatory approvals and conditions precedent before becoming fully operational.
This move positions Eni to better compete within the active European energy trading landscape, leveraging Mercuria’s expertise to capitalize on current market dynamics.