Overview

• Global Infrastructure Partners, now part of BlackRock, signed a definitive deal for a 49.99% co-control interest in Eni CCUS Holding, with the price undisclosed.
• Eni and GIP will share investment costs as part of a joint midstream infrastructure approach intended to scale the carbon capture business.
• The platform covers UK developments linked to the HyNet cluster, including Liverpool Bay and Bacton, and the L10 project in the Netherlands, with future rights to acquire Italy’s Ravenna CCS project.
• The agreement grants Eni CCUS the right to participate in additional projects tied to Eni’s depleted oil and gas fields subject to regulatory and market conditions.
• Eni and GIP leaders said the tie-up targets large-scale deployment of CCUS, a technology backed by the IEA yet viewed by some critics as commercially uncertain and potentially prolonging fossil fuel use.