Eni sign exclusivity agreement with GIP
Published by Emilie Grant,
Editorial Assistant
Hydrocarbon Engineering,
Eni has signed an agreement to enter into a period of exclusivity with Global Infrastructure Partners (GIP), a global infrastructure investor and a part of BlackRock, aimed at progressing the confirmatory due diligence phase and completing the drafting of the documents related to the sale of a co-control stake of 49.99% in Eni CCUS Holding – a European player in the Carbon Capture, Utilisation and Storage (CCUS) sector – which includes and operates the following projects: Hynet and Bacton in the UK, L10 in the Netherland, and, in the context of a maturation of the regulatory and market framework, has the future right to acquire the Ravenna project in Italy. In the medium-to-long term, additional prospects could be added to build a wide platform of CCUS projects.
According to the final agreement under negotiation, besides the initial acquisition of a 49.99% stake in Eni CCUS Holding, GIP will support investments in the CCUS projects.
The agreement follows a thorough selection process involving several prominent international players who expressed strong interest in the company, further confirming the great appeal of its business and its growth prospects. This step represents another example of the development of Eni's satellite model strategy, aiming at attracting strategically aligned capital from valuable new partners at attractive terms, confirming the value Eni is creating in its new energy transition related businesses and funding their further growth.
CCUS is a mature and safe technological process and it is one of the key levers for the energy transition being the most efficient and effective decarbonisation tool to support hard-to-abate industries in reducing their emissions.
Read the article online at: https://www.hydrocarbonengineering.com/the-environment/29052025/eni-sign-exclusivity-agreement-signed-with-gip/
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