Italian energy company Eni recently announced that it has sold a 49.99% stake in its carbon capture and storage business unit, Eni CCUS Holding, to Global Infrastructure Partners, a company under the BlackRock Group. Eni stated that this transaction has received all necessary regulatory approvals.

This equity cooperation will provide support for the development of CCS business for both parties. After the transaction is completed, Eni and GIP will jointly hold equity in Eni CCUS Holding. The company currently operates several CCS business projects in Europe, including the Liverpool Bay and Bacton development projects in the UK, as well as the L10-CCS project in the Netherlands. The company also holds the right to acquire partial interests in Eni's CCS business project in Ravenna, Italy, and may incorporate new projects in the future.

Carbon capture and storage is a relatively mature technology, considered one of the feasible paths to achieve emission reductions in the industrial sector. CCS business can play a role in industrial activities where it is difficult to completely eliminate carbon emissions, helping companies reduce greenhouse gas emissions.