Italian Eni posted a net profit of around $13.8 billion for the full year of 2022 compared to a $5.8 billion profit in 2021 mainly due to write-offs, according to its financial results statement released on Friday.
The company also recorded a fourth-quarter 2022 gain of $550 million, down from a third-quarter 2022 profit of $5.9 billion, and $3.5 billion in the fourth quarter of 2021.
The company’s CEO Claudio Descalzi said 2022 was not only a year when Eni engaged in progressing its sustainable energy transition goals, 'but also in ensuring the security and stability of energy supplies to Italy and Europe, building up a diversified geographic mix of energy sources.'
'During the year, we were able to finalize agreements and activities to fully replace Russian gas by 2025, leveraging our strong relationships with producing states and fast-track development approach to ramp-up volumes from Algeria, Egypt, Mozambique, Congo and Qatar,' Descalzi was quoted as saying in the statement.
Full-year revenue in 2022 amounted to $133.4 billion, marking a 71.5% rise from $77.8 billion in 2021.
The revenue of the company for the October-December period of last year reached $31.5 billion, compared to $27 billion for the same quarter of 2021 and $37.6 billion for the third quarter of 2022.
The company noted that its natural gas sales of 15.55 billion cubic meters (bcm) decreased by 18% during the last quarter of 2022 compared to the same period in 2021, due to the lower gas volumes marketed in Italy, particularly in the spot market and industrial segments.
'In the European markets, gas volumes reported an increase of 3% thanks to higher sales in Germany and Austria, which offset lower volumes sold in all the other markets,' it said, however, adding that worldwide LNG sales decreased by 14% compared to the fourth quarter of 2021.
In the full year of 2022, natural gas sales amounted to 60.52 bcm, down 14% versus 2021, impacted by lower supply from Russia and Nigeria.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr