“Eni is pleased to note that the operation finalized by Eni CCUS Holding represents a further example of success of Eni’s satellite model, able to create entities that attract strategically aligned capital for its businesses related to the energy transition, confirming its growth potential and value creation,” highlighted the Italian player.

The multimillion-dollar financing will enable other initiatives within Eni CCUS Holding’s portfolio, which include L10-CCS in the Netherlands, said to be one of the leading storage sites in Northwest Europe, and the Bacton CCS project in the United Kingdom, which has the potential to support the progressive decarbonization of industries in South East England and continental Europe.

The company, which also holds the right to acquire the 50% stake currently owned by Eni in the Ravenna CCS project in Italy, may integrate additional projects over time, including investigation of new initiatives, as part of a broader medium- to long-term CCS platform.