Italy’s Eni has completed the sale of a 49.99% stake in its carbon capture subsidiary Eni CCUS Holding to Global Infrastructure Partners, the company said on Thursday.
The agreement grants joint control to both parties and includes rights for the company to acquire a 50% stake in Italy’s Ravenna CCS project, with further expansion across CCS projects in the UK and the Netherlands. GIP’s involvement reinforces Eni’s strategic focus on CCS and its broader decarbonisation plan.
Eni CCUS Holding manages the Liverpool Bay and Bacton CCS projects in the UK, as well as the L10-CCS project in the Netherlands.
Eni said the deal is part of its “satellite model” to attract strategic capital into energy transition initiatives, while GIP’s investment is expected to strengthen industrial potential and future growth.
Global Infrastructure Partners is a leading infrastructure investment firm headquartered in New York. The company manages over USD 100 billion in assets across sectors including energy, transport and digital infrastructure. In January 2024, GIP agreed to be acquired by BlackRock, further enhancing its global reach and financial capacity. The firm has a growing presence in low-carbon and energy transition assets, with a focus on long-term value creation through strategic partnerships.