Wedoany.com Report-Aug. 22, Eni S.p.A. (Rome, Italy) and Global Infrastructure Partners (GIP), part of BlackRock, have signed an agreement for the sale of a 49.99% stake in Eni CCUS Holding, a leading global player in Carbon Capture, Utilization and Storage (CCUS). Eni CCUS Holding was established to maximize the industrial potential and value of Eni’s CCUS projects. Through its subsidiaries, the company operates the Liverpool Bay and Bacton projects in the UK, with Liverpool Bay currently under construction as a central component of the HyNet industrial cluster, supported by a defined regulatory and commercial framework and an existing financing plan. Additionally, the company manages the L10-CCS project in the Netherlands and holds the option to acquire Eni’s 50% stake in the Ravenna CCS project in Italy. The platform also allows inclusion of future CCUS projects in the medium to long term.

Eni CEO Claudio Descalzi commented: “The decision to consolidate our CCUS global portfolio into a dedicated entity, and the entry of GIP as a strategic partner, will further enhance our ability to deliver large-scale, technically advanced decarbonization solutions. The development of our satellite model applied to our businesses related to the energy transition is therefore successfully continuing, confirming their significant attractiveness in terms of growth potential and value creation by attracting aligned capital, as well as their effectiveness in reducing emissions.”

Bayo Ogunlesi, GIP Chairman and CEO, added: “We are excited to partner with Eni, a global leader in CCUS. GIP’s experience in midstream infrastructure, combined with Eni’s technical, operational and industrial capabilities, will help accelerate the deployment of CCUS solutions at meaningful scale, furthering our commitment to serve growing market needs for affordable, decarbonized energy and products.”

The agreement, following exclusive negotiations announced in May, provides for joint control of Eni CCUS Holding by Eni and GIP. Closing is subject to regulatory approvals. The participation of GIP, a significant international investor, is seen as a key step in strengthening the business case for CCUS and advancing Eni CCUS Holding as part of Eni’s satellite model, which highlights the value of its energy transition businesses.

CCUS is a mature and safe technological process and remains a critical lever for the energy transition. It is currently considered one of the most effective and efficient decarbonization tools to support hard-to-abate industries in reducing greenhouse gas emissions. By consolidating and expanding its CCUS initiatives through Eni CCUS Holding, Eni aims to accelerate large-scale deployment of decarbonization solutions, providing both technical innovation and operational excellence to address global energy and industrial emission challenges.

The partnership underscores the increasing role of CCUS in achieving sustainable energy goals while enhancing industrial value and supporting the transition to a low-carbon economy. The move positions Eni and GIP to deliver impactful, scalable solutions to meet growing demand for decarbonized energy and industrial products.