Italian oil and gas major Eni and Swiss commodity group Mercuria have agreed to create a new joint venture for global energy commodity trading.
The new entity, which will be equally owned by both partners, is set to operate independently via a holding structure headquartered in Geneva.
The joint venture will cover specified commercialisation and trading operations across global energy markets, combining Eni’s extensive physical asset supply chains with Mercuria’s advanced trading, risk management, and logistics capabilities.
The scope of the venture covers key global commodities including crude oil, biofuels, natural gas, LNG, and LPG, alongside their associated infrastructure and logistics rights.
“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,” said Stefano Pujatti, Eni’s Director of Global Trading.
For Eni, the partnership aligns with a broader corporate shift to accelerate cash flow and capture deeper value across its entire supply chain, while strengthening capabilities through the partnership with a leading global trading company such as Mercuria.
Mercuria CEO Marco Dunand stated that the partnership brings together highly complementary organisations with a shared vision.
“By integrating physical energy flows with world-class trading, logistics and risk management capabilities, we will create a more agile and efficient platform that maximises value across the supply chain,” Dunand said.
Both companies believe that this joint venture will create significant growth opportunities, enabling the partners to unlock synergies and pursue joint development initiatives.
The move comes during a period of massive volatility and profit opportunities in international energy markets.
Subject to customary regulatory approvals, the joint venture is expected to become fully operational in 2027, with both firms maintaining equal senior management representation.
