Eni and Global Infrastructure Partners, a part of BlackRock and strategic partner in Eni CCUS Holding, said the company has secured a financing facility of more than $670 million (£500 million) to support its carbon capture and storage project platform.
The financing was provided by a group of 13 international lenders and follows the project financing of the Liverpool Bay CCS project, part of the HyNet industrial decarbonization cluster in the United Kingdom.
The companies said market interest in Eni CCUS Holding exceeded the initially targeted financing amount.
BNP Paribas acted as sole financial adviser for the transaction.
Eni CCUS Holding said the financing reflects financial market confidence in its CCS strategy and project execution capabilities, as well as shareholder support from Eni and GIP.
The Liverpool Bay CCS project reached financial close with the UK government in April 2025 and is currently under development as a transportation and storage network for industries in the HyNet cluster.
The companies said more than 30% of construction work on the project has already been completed.
Liverpool Bay CCS is expected to have storage capacity of 4.5 million tonnes of carbon dioxide per year in its first phase, with potential to reach 10 million tonnes annually during the 2030s. The project is expected to begin operations in 2028.
The project will store carbon dioxide in depleted gas reservoirs beneath the seabed of Liverpool Bay and includes the reuse of existing offshore and onshore infrastructure alongside new pipeline construction.
Eni CCUS Holding said the financing will also support other projects in its portfolio, including the L10-CCS project in the Netherlands and the Bacton CCS project in the United Kingdom.
The company added it also holds the right to acquire a 50% stake currently owned by Eni in the Ravenna CCS project in Italy and may add further projects to its CCS platform over time.
Subscribe
