Global Infrastructure Partners (GIP), a BlackRock subsidiary and leading global infrastructure investor, has entered into a definitive agreement to acquire a 49.99 percent interest in Eni CCUS Holding, a prominent platform in the carbon capture, utilisation, and storage sector. The strategic partnership aims to accelerate the development of critical decarbonization infrastructure across multiple geographies.
Comprehensive CCUS Portfolio
Eni CCUS currently operates a diverse portfolio of strategic projects designed to decarbonize industrial clusters. The platform encompasses the Liverpool Bay and Bacton projects in the United Kingdom, the L10 project in the Netherlands, and holds an option to participate in the Ravenna CCS project in Italy.
The agreement also provides Eni CCUS with rights to participate in potential future projects utilising Eni’s depleted oil and gas fields, contingent upon appropriate regulatory and market conditions. This expansion capability positions the platform to unlock additional business opportunities while strengthening its contribution to global decarbonization efforts.
Strategic Partnership Objectives
The collaboration between GIP and Eni is designed to provide critical infrastructure for capturing and permanently sequestering CO2 emissions from hard-to-abate industries. By combining resources and expertise, the partnership aims to deploy CCUS solutions at meaningful scale across different geographical markets.
The alliance leverages GIP’s extensive experience in midstream infrastructure development alongside Eni’s technical, operational, and industrial capabilities to accelerate project deployment and market expansion.
Leadership Perspectives
Bayo Ogunlesi, GIP’s chairman and chief executive officer, expressed enthusiasm about the partnership’s potential impact. “We are excited to partner with Eni, a global leader in CCUS,” he stated. “GIP’s experience in midstream infrastructure, combined with Eni’s technical, operational and industrial capabilities, will help accelerate the deployment of CCUS solutions at a meaningful scale, furthering our commitment to serve growing market needs for affordable, decarbonized energy and products.”
Eni CEO Claudio Descalzi emphasized the strategic value of consolidating the company’s CCUS portfolio. “The decision to consolidate our CCUS global portfolio into a dedicated entity, and the entry of GIP as a strategic partner, will further enhance our ability to deliver large-scale, technically advanced decarbonization solutions,” he explained. “The development of our satellite model applied to our businesses related to the energy transition is therefore successfully continuing, confirming their significant attractiveness in terms of growth potential and value creation by attracting aligned capital, as well as their effectiveness in reducing emissions.”
Technology and Market Impact
CCUS represents a proven, scalable solution for decarbonizing emissions-intensive industrial sectors including steel, cement, and chemicals production, while also contributing to emissions reduction in power generation. The technology enables industries to meet climate targets by permanently storing or repurposing captured CO2, maintaining energy security and industrial competitiveness during the transition to a decarbonized economy.
Investment Opportunity Scale
GIP characterises the energy transition as a generational investment opportunity requiring over $100 trillion in global investment to meet worldwide clean energy demands. The firm views CCUS as a critical component of this transition, positioning the Eni partnership to leverage GIP’s energy and industrial infrastructure expertise alongside strong government and industry relationships.
The strategic alliance demonstrates both companies’ commitment to enabling and accelerating energy transition infrastructure deployment, addressing the growing market demand for comprehensive decarbonisation solutions across multiple industrial sectors.
For more information visit www.global-infra.com
