36 Transactions with related parties

In the ordinary course of its business, Eni enters into transactions mainly regarding:

a)       Purchase, sale and supply of goods and services and the provision of financing to joint ventures, associates and non-consolidated subsidiaries;

b)       purchase, sale and supply of goods and services to entities controlled by the Italian Government;

c)       contributions to Eni Foundation and Eni Enrico Mattei Foundation, non-corporate entities attributable to Eni, which pursue humanitarian, cultural, and research initiatives. Transactions with these entities are immaterial.

There were no material transactions involving Directors, Statutory Auditors or their affiliates.

Transactions with related parties were conducted in the interest of the Group and, with exception of those with entities whose aim is to develop humanitarian, cultural, and scientific initiatives, are related to the ordinary course of Eni’s business.

Transactions and balances with related parties

The most significant transactions with joint ventures, associates and unconsolidated subsidiaries concerned:

         Eni’s share of expenses incurred to develop oil fields billed by Agiba Petroleum Co, Karachaganak Petroleum Operating BV, Mellitah Oil & Gas BV, Petrobel Belayim Petroleum Co, Groupement Sonatrach - Eni «GSE» and, limited to Karachaganak Petroleum Operating BV, purchase of crude oil by Eni Trade & Biofuels SpA; costs recovered from Eni associates are billed on the basis of costs incurred;

         the residual debt relating to the payment of the consideration for the repurchase of Cardón IV trade receivables towards the state company PDVSA;

         supply of upstream specialist services and a guarantee issued on a pro-quota basis granted to Coral FLNG SA on behalf of the Consortium TJS for the contractual obligations assumed following the award of the EPCIC contract for the construction of a floating gas liquefaction plant;

         guarantees issued to Eni CCUS Holding in connection with the sale of the CCUS assets in the United Kingdom and the Netherlands;

         supply of upstream specialist services, purchase of crude oil and issue of guarantees against leasing contracts of FPSO vessels to Azule Group;

         engineering, construction and drilling services by Saipem Group mainly for the Exploration & Production segment;

         acquisition of transport services from SeaCorridor Group;

         guarantees issued to Vårgrønn Group mainly in relation to the participation in the Dogger Bank offshore wind project;

         the sale of gas to In Salah Gas Ltd;

         receivables relating to the business combination carried out in 2024, the purchase of crude oil and condensate and the execution of commodity derivative contracts from Ithaca Energy Plc Group;

         the purchase of elastomers from Lotte Versalis Elastomers Co Ltd;

         advances received from Società Oleodotti Meridionali SpA for the infrastructure upgrade of the crude oil transport system at the Taranto refinery;

         the sale of gas to Société Centrale Electrique du Congo SA;

         guarantees issued pro rata on behalf of St. Bernard Renewables LLC in favor of suppliers for feedstock purchasing transactions;

         guarantees issued in compliance with contractual agreements in the interest of Vår Energi ASA, the supply of upstream specialist services and maritime transport, the purchase of crude oil, condensates and gas and the realized part of forward contracts for the purchase of gas;

         services for environmental restoration to Industria Siciliana Acido Fosforico - ISAF SpA (in liquidation).

The most significant transactions with entities controlled by the Italian Government concerned:

         activities aimed at ensuring operation, upgrading and efficiency of the plants provided to Ansaldo group (Cassa Depositi e Prestiti);

         sale of fuel and combustibles, sale and purchase of gas, acquisition of power distribution services and fair value of derivative financial instruments with Enel Group;

         acquisition of distribution, transportation and storage services with Snam Group and Italgas Group on the basis of the tariffs set by the Italian Regulatory Authority for Energy, Networks and Environment, as well as, from the Snam Group, the receivable for divestment relating to the sale of the 49.9% share capital of SeaCorridor Srl and the purchase and sale of natural gas for granting the system balancing on the basis of prices referred to the quotations of the main energy commodities;

         acquisition of electricity transmission services and sale and purchase of electricity for granting the system balancing based on prices referred to the quotations of the main energy commodities, and derivatives on commodities entered to hedge the price risk related to the utilization of transport capacity rights with Terna Group;

         sale and purchase of electricity, gas, environmental certificates, fair value of derivative financial instruments, sale of oil products and storage capacity with GSE - Gestore Servizi Energetici (Energy Services Operator) for the setting-up of a specific stock held by the Organismo Centrale di Stoccaggio Italiano (OCSIT) according to the Legislative Decree No. 249/12; the contribution to cover the charges deriving from the performance of OCSIT functions and activities and the contribution paid to GSE for the use of biomethane and other advanced biofuels in the transport sector;

         the sale of jet fuel to ITA Airways - Italia Trasporto Aereo SpA.

Transactions with other related parties concerned:

         provisions to pension funds managed by Eni of €25 million and debts for contributions to be paid for €3 million;

         costs for contributions paid to the Supplementary Healthcare Fund for Managers of Eni Group Companies (FISDE) for €5 million and debts for contributions to be paid for €1 million;

         contributions and service provisions to Eni Enrico Mattei Foundation for €4 million and to Eni Foundation for €5 million, and revenues from the Eni Foundation for €1 million.

Financing transactions and balances with related parties

The most significant transactions with joint ventures, associates and unconsolidated subsidiaries concerned:

         a financing loan granted to Coral FLNG SA for the construction of a floating gas liquefaction plant in Area 4 offshore Mozambique;

         a cash deposit with Group finance companies for E&E Algeria Touat BV;

         a financing loan granted by Eni UK to Bacton CCS, part of the Eni CCS Holding group, as part of the agreement with GIP;

         a bank debt guarantee issued on behalf of Coral South FLNG DMCC as part of the project financing of the Coral FLNG development project;

         liabilities for leased assets towards Saipem Group related to long-term contracts for the use of drilling rigs

         a financing loan granted to Mozambique Rovuma Venture SpA for the development of gas reserves offshore Mozambique;

The most significant transactions with entities controlled by the Italian Government concerned:

         finance debt for the realization of charging infrastructures for electric vehicles with Cassa e Depositi e Prestiti Group.

Impact of transactions and positions with related parties on the balance sheet, profit and loss account and statement of cash flows

The impact of transactions and positions with related parties on the balance sheet accounts consisted of the following:

The impact of transactions with related parties on the profit and loss accounts consisted of the following:

Main cash flows with related parties are provided below:

The impact of cash flows with related parties consisted of the following: