London: Eni has signed an agreement with Global Infrastructure Partners (GIP), part of BlackRock, to sell a 49.99% stake in Eni CCUS Holding, its dedicated carbon capture, utilization, and storage (CCUS) business. The two companies will jointly control the entity once the deal receives regulatory approval.

According to Trend News Agency, Eni CCUS Holding oversees major decarbonization projects, including the Liverpool Bay and Bacton initiatives in the UK and the L10-CCS project in the Netherlands. It also holds rights to expand into Italy’s Ravenna CCS project and could incorporate further projects in the future.

Eni CEO Claudio Descalzi stated that the partnership would enhance their ability to deliver large-scale, technically advanced decarbonization solutions. GIP Chairman and CEO Bayo Ogunlesi emphasized the combination of GIP’s infrastructure expertise with Eni’s industrial capabilities to accelerate CCUS deployment.

The transaction strengthens Eni’s strategy of structuring its energy transition businesses into separate platforms to attract capital and scale up low-carbon solutions.