Eni CCUS Holding is expanding its financing sources to strengthen its carbon capture and storage (CCS) project platform.

According to a company statement, following the successful project financing of Liverpool Bay CCS (LBCCS), the backbone infrastructure of the HyNet industrial decarbonisation cluster in the United Kingdom, the market continued to show a strong interest in Eni CCUS Holding, with participation requests significantly exceeding the initially targeted amount. In response, Eni CCUS Holding secured a financing facility of more than £500 million from a pool of 13 international lenders, with BNP Paribas acting as sole financial advisor.

The company says the transaction highlights the long-term commitment of its shareholders, Eni and GIP, and confirms their full alignment on the strategic role of CCS in the energy transition.

The financing will enable initiatives such as L10-CCS in the Netherlands, one of the leading storage sites in Northwest Europe, and the Bacton CCS project in the United Kingdom, which has the potential to support the progressive decarbonisation of industries in South East England and continental Europe. In addition, Eni CCUS Holding holds the right to acquire the 50% stake currently owned by Eni in the Ravenna CCS project in Italy and may integrate additional projects over time, including investigation of new initiatives, as part of a broader medium- to long-term CCS platform.

The LBCCS project reached financial close with the UK Government in April 2025 and is currently under development as a transportation and storage network serving industries within the HyNet Cluster. More than 30% of construction works have already been completed, in line with the original schedule.

With a storage capacity of 4.5 million tonnes of CO₂ per year in its first phase, and the potential to reach 10 million tonnes annually during the 2030s, LBCCS is expected to become operational in 2028, in line with the timeline of industrial emitters within the HyNet Cluster. The project will safely and permanently store CO₂ in depleted gas reservoirs located beneath the seabed of Liverpool Bay. The construction program includes the efficient repurposing of part of the offshore platform infrastructure and existing onshore and offshore pipelines, as well as the construction of new pipelines to connect industries across North West England and North Wales.