Eni Group in Exclusive Talks with BlackRock’s Global Infrastructure Partners for CCS Stake Sale
Italy’s Eni Group has been making significant strides in the carbon capture, utilization, and storage (CCUS) sector, and their latest move involves exclusive discussions with BlackRock’s Global Infrastructure Partners. The companies are currently in talks for the potential sale of a 49.99 percent stake in Eni’s CCS portfolio to GIP, demonstrating the increasing investor interest in this emerging industry.
According to Eni, they have signed an exclusivity agreement with GIP, indicating progress towards a confirmatory due diligence phase. The terms being negotiated include GIP acquiring the stake and providing support for investments in Eni’s CCUS projects. GIP, a part of BlackRock since 2024, specializes in infrastructure and energy investments, including offshore wind projects.
The CCUS sector is gaining traction as a vital tool in achieving decarbonization and climate goals. Europe has been leading the way with active projects in countries like Norway, Denmark, and the UK, focusing on developing CCUS applications in key industrial zones.
Eni’s CCS portfolio already includes a significant role in the UK’s HyNet industrial cluster project in northwest England. The company is progressing with the Liverpool Bay CCS project, having secured key approvals and currently working on the planned offshore platforms for the initiative.
Eni is also involved in the Bacton Thames Net Zero project in the UK, aiming to store carbon in the depleted Hewett gas field off the North Norfolk coast. This initiative plans to store a minimum of 10 million tonnes of CO2 annually from industrial sources.
Additionally, Eni holds rights to the Ravenna CCS project in Italy, recognized as the country’s first capture project. Through its investment arm, Eni Next, the company is collaborating with firms developing innovative CCS technologies and participating in a European Union initiative with 44 oil and gas companies to advance carbon storage efforts.
Zacks Equity Research views the potential partnership between Eni and GIP as a blueprint for legacy energy companies to monetize transition-related assets. The collaboration also signifies the growing investor appetite for infrastructure investments, especially as Europe’s regulatory and climate ambitions continue to escalate.
Eni stated that the agreement with GIP followed a rigorous selection process involving various prominent players, highlighting the strong interest in their CCUS business and its promising growth prospects.