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Market Chatter: Eni Eyes Nuclear Fusion as Next Major Energy Opportunity

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Eni (E) is expanding its investment in nuclear fusion, targeting a commercial fusion plant in Europe by the early 2040s or sooner, the Financial Times reported Monday.

The energy company is working with Commonwealth Fusion Systems and plans to develop a European plant after CFS's first US facility, with a roughly $1 billion power purchase agreement already in place, according to the report.

Eni is focusing on the fusion fuel cycle, leveraging its hydrogen and hydrocarbon expertise, and expects commercial projects to require billions of dollars as competition grows, the report added.

Eni did not immediately respond to' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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