GIP takes joint controlling stake in Eni’s CCUS business

SAN DONATO MILANESE AND NEW YORK, August 19, 2025 – Eni has signed an agreement to sell a 49.99% stake in Eni CCUS Holding, its international carbon capture company, to Global Infrastructure Partners (GIP), the companies announced on Monday.

Eni CCUS currently encompasses the Liverpool Bay and Bacton projects in the UK and the L10 project in the Netherlands. The company also has the right to acquire the 50% stake held by Eni in the Ravenna CCS project in Italy.

Eni and GIP entered into exclusive negotiations for the deal in March 2025. Under the terms of the signed agreement, the companies will hold joint control of Eni CCUS, with plans to accelerate the development of its existing projects and expand its business with future CCUS opportunities in Eni’s depleted oil and gasfields. The financial terms for the deal were not disclosed.

“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 decarbonisation solutions,” said Eni CEO Claudio Descalzi.

“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, decarbonised energy and products,” added Bayo Ogunlesi, GIP’s chairman and CEO.

The Liverpool Bay project, currently under construction with financial and commercial structuring in place, will serve as a backbone for the HyNet industrial cluster, which will bring carbon dioxide from capture plants in North West England and North Wales for storage in Eni’s depleted reservoirs under the Liverpool Bay seabed.

Part of BlackRock, GIP has more than USD 183 billion in assets under management that it invests globally in energy, transportation, digital and waste and water management infrastructure. The company recently announced a USD 11-billion lease and leaseback deal for Saudi Aramco’s Jafurah midstream assets in Saudi Arabia.

The deal is part of Eni’s long-term strategy to sell stakes in its energy transition businesses to accelerate project development and fund growth. Other transactions include the October 2024 sale of 25% of biorefining business Enilive to KKR for EUR 2.9 billion and the June 2025 sale of 20% of renewables subsidiary Plenitude to Ares for around EUR 2 billion.

Photo of CCUS facility courtesy of Eni

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