Eni CCUS Holding secures new £500m financing to expand carbon capture platform
Eni and Global Infrastructure Partners have announced that their joint venture Eni CCUS Holding is expanding its financing sources to accelerate development of its carbon capture and storage (CCS) portfolio, strengthening its role in industrial decarbonisation across Europe.
The platform has secured a financing facility of more than £500 million from a consortium of 13 international lenders, following strong market interest that significantly exceeded the initial funding target. The transaction builds on the successful project financing of Liverpool Bay CCS, which forms a core part of the UK’s HyNet industrial decarbonisation cluster.
According to the companies, the new financing reflects confidence in Eni CCUS Holding’s strategy and execution capability, as well as its long-term role in enabling large-scale carbon storage infrastructure. BNP Paribas acted as sole financial advisor on the transaction, which saw participation from major global lenders including institutions from Europe and Asia.
Liverpool Bay CCS, which reached financial close with the UK Government in April 2025, is currently under development as a transport and storage network designed to serve industrial emitters across the HyNet cluster. More than 30% of construction has already been completed, and the project remains on schedule to become operational in 2028. Once fully operational, it is expected to store 4.5 million tonnes of CO₂ per year in its first phase, with potential expansion to 10 million tonnes annually in the 2030s. The captured carbon will be permanently stored in depleted gas reservoirs beneath the seabed of Liverpool Bay, with parts of existing offshore and onshore infrastructure being repurposed alongside new pipeline construction.
The expanded financing will also support additional projects within Eni CCUS Holding’s wider portfolio, including L10-CCS in the Netherlands and the Bacton CCS project, both of which are expected to contribute to the decarbonisation of heavy industry across North West Europe and beyond. The platform also retains strategic options to develop further assets, including potential integration of the Ravenna CCS project in Italy.
Eni said the transaction demonstrates the effectiveness of its satellite model in attracting aligned capital for energy transition businesses, highlighting growing investor confidence in carbon capture and storage as a key component of Europe’s long-term decarbonisation strategy.
