Eni CCUS Holding, a strategic partnership between Italian energy giant Eni and Global Infrastructure Partners (GIP), part of BlackRock, has expanded its funding sources to strengthen its carbon capture and storage (CCS) project platform.
Eni CCUS Holding has secured financing facilities worth more than GBP500 million (about US$670 million) from a group of 13 international lenders including Banco BPM, BNP Paribas, BPER, DNB, ING, Intesa Sanpaolo, Mediobanca, Mizuho, MUFG, NatWest, SMBC, Societe Generale and UniCredit, with BNP Paribas acting as sole financial advisor.
The new facility is said to reflect the strong confidence the financial market places in the company’s strategic vision and execution capabilities, which are crucial to supporting industrial decarbonisation. The transaction also highlights Eni and GIP’s long-term commitment as shareholders in the company, confirming their full alignment with CCS’s strategic role in the energy transition.
after Project financing to Liverpool Bay CCS (LBCCS)the basic infrastructure of Hi Net Within the UK industrial decarbonisation cluster, the market continued to show strong interest in Eni CCUS Holding, with applications for participation significantly exceeding the initially targeted amount, according to Eni.
The LBCCS project has arrived Financial close With the UK Government in April 2025 and is currently under development as a transport and storage network serving industries within the HyNet group. More than 30% of the construction work has already been completed, in line with the original schedule.
With a storage capacity of 4.5 million tons of CO2 per year in its first phase, and the potential to reach 10 million tons per year during the 2030s, LBCCS is expected to become operational in 2028, in line with the timeline for industrial emitters within the HyNet group. The project will safely and permanently store carbon dioxide in depleted gas tanks located under the seabed in Liverpool Bay.
The construction program includes the efficient reuse of part of the existing onshore and offshore platform infrastructure, as well as the construction of new pipelines to connect industries across northwest England and north Wales.
“Eni is pleased to note that the operation completed by Eni CCUS Holding represents another example of the success of Eni’s satellite model, capable of creating entities that attract strategically aligned capital for its energy transition business, underscoring its growth and value creation potential.” The most prominent Italian player.
The multi-million dollar financing will enable the launch of other initiatives within Eni CCUS Holding’s portfolio, which include L10-CCS In the Netherlands, it is said to be one of the leading storage sites in northwestern Europe, and Bacton CCS A project in the UK, which has the potential to support the gradual decarbonisation of industries in south-east England and continental Europe.
The company, which also has the right to acquire the 50% stake currently held by Eni in Ravenna CCS In Italy, it may integrate additional projects over time, including investigating new initiatives, as part of a broader medium- and long-term carbon capture and storage platform.
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