KEY POINTS
- Eni sells almost half of its carbon capture unit to BlackRock backed GIP
- The partnership covers major CCS projects in Britain, the Netherlands and Italy
- The deal strengthens financing and supports Eni’s energy transition strategy
Italian energy company Eni has completed the sale of a significant minority stake in its carbon capture and storage business to Global Infrastructure Partners, a unit of BlackRock, marking a major step in its push to scale low carbon infrastructure across Europe.
The company said it sold 49.99 percent of Eni CCUS Holding to GIP after receiving all required regulatory approvals. The transaction makes the two firms joint owners of the business, which focuses on capturing and storing carbon emissions from industrial activity.
Eni described the deal as a validation of its strategy to attract long term capital into energy transition projects while retaining an active operational role.
Carbon capture portfolio spans key European projects
Eni CCUS Holding oversees a growing portfolio of carbon capture projects, including developments at Liverpool Bay and Bacton in the United Kingdom and the L10 CCS project in the Netherlands. The company also holds rights linked to Eni’s interest in the Ravenna CCS project in Italy, which is expected to play a central role in the country’s decarbonisation plans.
The firm said the portfolio could expand further as demand rises for carbon capture services, particularly from heavy industries seeking to cut emissions without shutting down operations.
Following the transaction, GIP joins Eni as a strategic investor, adding financial strength to the business and supporting its long term development plan. Eni said the partnership would help accelerate project execution while sharing risks tied to capital intensive infrastructure.
Carbon capture and storage is increasingly viewed by governments and energy companies as a practical tool to reduce emissions, especially in sectors such as cement, steel and chemicals that are difficult to decarbonise using renewables alone.
Eni said the deal reflects its broader satellite business model, which involves bringing in aligned partners to support growth while keeping technical and operational control. The approach has already been used across several transition focused units, allowing the company to recycle capital and fund new investments.
GIP’s involvement, Eni added, offers external confirmation of the commercial potential and long term value of carbon capture in Europe’s energy mix.
The agreement comes as European policymakers push for faster emissions reductions while maintaining industrial competitiveness. Carbon capture is expected to play a supporting role alongside renewables, hydrogen and energy efficiency measures.
Eni said the strengthened partnership positions its carbon capture business to respond to policy support and growing market demand, while contributing to broader climate goals and energy security across the region.
