KEY POINTS
- Eni plans to invest approximately £11 billion in the UK between 2026 and 2030.
- About two-thirds of the investment will target lower-carbon energy sectors.
- Its Liverpool Bay carbon capture project is expected to support more than 2,000 construction jobs and 300 permanent positions.
Italian energy company Eni has pledged to invest approximately £11 billion in the United Kingdom between 2026 and 2030, with about two-thirds of the funding expected to go into lower-carbon energy projects.
The investment plan was discussed during a meeting in London between Eni CEO Claudio Descalzi and UK Secretary of State for Energy Security and Net Zero Miatta Fahnbulleh.
The discussions covered the company’s activities across the UK energy sector, including plans to support the energy transition, strengthen industrial competitiveness and improve domestic energy security.
Eni said the planned investment would contribute to the UK’s decarbonisation, reindustrialisation and industrial development goals.
The company expects the funding to support skilled job creation, attract additional investment, strengthen the competitiveness of British industries and generate economic benefits for communities where it operates.
Fahnbulleh described the commitment as a sign of confidence in Britain’s industrial future, saying it would support skilled employment, improve energy security and help revive industrial communities.
She added that the government wanted regions that had powered Britain for generations to play a leading role in its energy transition.
She cited carbon capture projects in North West England and offshore wind developments in the North Sea as examples of opportunities that could support this ambition.
Eni Expands Focus on Lower-Carbon Energy
Descalzi said the UK remained an important market for Eni, which operates across several parts of the energy value chain.
The company’s activities include renewable energy, fusion technology, carbon capture and storage (CCS), and upstream oil and gas operations.
He said Eni was strengthening its industrial presence in the country, particularly in lower-carbon sectors, supported by what he described as the UK’s investment environment, long-term vision, technological capabilities and commitment to innovation.
Eni has operated in the UK since 1964, giving it more than six decades of involvement in the country’s energy industry.
Liverpool Bay Project Expected to Create Jobs
A major part of Eni’s UK activities is the Liverpool Bay carbon capture and storage project, which is being developed through its subsidiary, Eni CCUS Holding.
The project forms a central part of the HyNet industrial decarbonisation cluster, which covers North West England and North Wales.
It is expected to help establish one of the world’s first lower-carbon industrial clusters and contribute to the UK’s net-zero emissions targets.
The project is projected to support more than 2,000 jobs during construction and create around 300 permanent positions over its operating life of more than 25 years.
The investment is expected to strengthen Eni’s position in the UK energy market while supporting the country’s efforts to reduce industrial emissions and develop lower-carbon energy infrastructure.
