BlackRock-owned Global Infrastructure Partners (GIP) is in talks to acquire half of Eni’s European carbon capture, utilisation and storage (CCUS) business.
Italian multinational energy firm Eni said it is in an exclusive period with the global infrastructure investor, to advance due diligence and prepare documents for selling a 49.99% co-control stake in Eni CCUS Holding.
The projects under Eni CCUS include HyNet and Bacton in the UK and the L10 project in the Netherlands. The company also has an option to acquire the Ravenna project in Italy.
Eni said a final agreement for GIP to acquire the initial 49.99% stake in Eni CCUS will also involve GIP supporting investments in the CCUS projects.
Eni said the agreement with GIP was made after several prominent international companies showed interest in the business. The move is also in line with Eni’s “satellite model”, through which it seeks to bring in capital from new partners.
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