GIP Takes Stake in Eni Subsidiary For CCUS Projects

The Italian energy company Eni and Global Infrastructure Partners ("GIP"), an infrastructure investor and part of BlackRock, have agreed on the sale of a 49.99 % stake in Eni CCUS Holding. Eni CCUS is one of the leading players in the sector of Carbon Capture, Utilization and Storage.

The company is currently developing the Liverpool Bay project as part of the HyNet industrial cluster in the UK. In addition, Eni is advancing the Bacton project in the UK as well as the L10-CCS project in the Netherlands. Furthermore, the company holds the right to acquire Eni’s fifty-percent stake in the Ravenna CCS project in Italy. In the medium to long term, Eni CCUS is expected to be able to integrate further potential projects into a broad platform of CCUS initiatives.

Eni CEO Claudio Descalzi emphasized that GIP’s entry as a strategic partner will lead to large-scale, technologically advanced decarbonization solutions. He further described GIP’s involvement as a decisive step toward strengthening the CCUS business model and developing Eni CCUS Holding.

Bayo Ogunlesi, Chairman and CEO of GIP, expressed confidence that the cooperation between the two companies will accelerate the deployment of CCUS solutions on a large scale and meet the growing market demand for affordable, decarbonized energy and products.