BAKU, Azerbaijan, December 19. Italian Eni and Global Infrastructure Partners (GIP), a leading global infrastructure investor affiliated with BlackRock, said they have closed the sale of a 49.99% stake in Eni CCUS Holding, a major player in the carbon capture and storage (CCS) sector, Trend reports via Eni.
Under the deal, first announced in August, Eni and GIP will have joint control of the company.
Eni CCUS Holding operates the Liverpool Bay and Bacton projects in the UK, as well as the L10-CCS project in the Netherlands. The company also holds the right to acquire Eni’s 50% stake in the Ravenna CCS project in Italy and may expand to other CCS initiatives in the medium to long term.
All legally required approvals for the transaction have been obtained.
CCS is considered a mature and safe technology and a key tool for decarbonizing hard-to-abate industries, supporting the broader energy transition.
Eni is an integrated energy company that wants to contribute to a socially equitable energy transition through solid and economically sustainable solutions.
The company mission includes the Sustainable Development Goals (SDGs) of the United Nations 2030 Agenda. Eni is committed to helping ensure energy security by leveraging a global portfolio and strategic alliances with producing countries. At the same time, it is implementing a transition strategy based on a technologically neutral and pragmatic approach aimed at maintaining the competitiveness of the production system and social sustainability.