BAKU, Azerbaijan, May 22. Eni and Global Infrastructure Partners (GIP), part of BlackRock, announced that Eni CCUS Holding is expanding its financing sources to further strengthen its Carbon Capture and Storage (CCS) project platform, Trend reports via Eni.
Following the successful project financing of the Liverpool Bay CCS (LBCCS), the core infrastructure of the HyNet industrial decarbonization cluster in the United Kingdom, strong market interest in Eni CCUS Holding has continued, with demand significantly exceeding initial targets.
In this context, Eni CCUS Holding secured a financing facility of more than £500 million from a consortium of 13 international lenders, including Banco BPM, BNP Paribas, BPER, DNB, ING, Intesa Sanpaolo, Mediobanca, Mizuho, MUFG, NatWest, SMBC, Société Générale, and UniCredit, with BNP Paribas acting as sole financial advisor.
The transaction reflects strong market confidence in Eni CCUS Holding’s strategic direction and execution capabilities, seen as key to advancing industrial decarbonization. It also underscores the long-term commitment of shareholders Eni and GIP, highlighting their alignment on the strategic importance of CCS in the energy transition.
The Liverpool Bay CCS project achieved financial close with the UK Government in April 2025 and is currently under development as a transport and storage network serving industries in the HyNet Cluster. More than 30% of construction has already been completed, in line with schedule.
With an initial capacity of 4.5 million tonnes of CO₂ per year and the potential to scale up to 10 million tonnes annually in the 2030s, LBCCS is expected to become operational in 2028. It will store CO₂ safely and permanently in depleted gas reservoirs beneath the seabed of Liverpool Bay, using a combination of repurposed offshore infrastructure and new pipeline systems connecting industrial sites across North West England and North Wales.
The new financing will also support other projects within Eni CCUS Holding’s portfolio, including the L10-CCS project in the Netherlands and the Bacton CCS project in the United Kingdom. The company also holds the option to acquire a 50% stake in the Ravenna CCS project in Italy and may expand its portfolio further through additional CCS initiatives over time.
