Italy’s Eni has completed the sale of a 49.99% equity stake in its carbon capture and storage (CCS) business, Eni CCUS Holding, to Global Infrastructure Partners (GIP), infrastructure investor owned by BlackRock.
GIP will jointly control the CCS platform alongside Eni following the closing of the transaction, which was first announced in August 2025.
Eni CCUS Holding operates a portfolio of carbon capture and storage projects across Europe, including the Liverpool Bay and Bacton developments in the UK and the L10-CCS project in the Netherlands.
The company also holds the right to acquire Eni’s remaining 50% interest in the Ravenna CCS project in Italy and may add further projects over time.
The transaction is part of Eni’s broader strategy to attract external capital into its lower-carbon businesses through so-called satellite structures, while retaining industrial involvement and operational oversight.
Carbon capture and storage is viewed as a key technology for cutting emissions in hard-to-abate industrial sectors, particularly where electrification or fuel switching remains limited.
Eni said the transaction had received all required regulatory approvals.