Eni said it has signed an agreement with Mercuria to establish a 50/50 joint venture for global energy commodities trading. The companies said the venture will be headquartered in Geneva, operate independently through a holding structure with international trading hubs, and remain unconsolidated.
Its scope will cover selected commercialization and trading activities in oil, refined fuels, biofuels, natural gas, LNG and LPG, together with related logistics and infrastructure rights.
Eni said the arrangement is intended to expand its trading footprint and integrate trading activity with the management of physical assets and supply chains, while Mercuria said the platform will combine its trading and risk management capabilities with Eni’s asset base and market presence.
Mercuria said the venture is expected to begin operating in 2027. Completion of the transaction is subject to regulatory approvals and other customary conditions.