Italian energy company Eni has signed a deal to sell a 49.99% stake in its carbon capture and storage business, Eni CCUS, to Global Infrastructure Partners (GIP), a US-based infrastructure investor owned by BlackRock.
The agreement comes as Eni looks for strategic partners to support the growth of its energy transition business.
In addition to holding a minority stake in the subsidiary, GIP will also support investments made for Eni’s CCUS projects.
Eni CCUS currently oversees several projects across Europe, including Hynet and Bacton in the UK and L10 in the Netherlands. It also has the option to acquire the Ravenna CCS development in Italy.
