Eni writes a new page in the global energy transition with the financial closure of the Liverpool Bay CCS project, which marks the beginning of the executive phase of an initiative destined to transform the sector capture itCO₂ touch (CCS). The project will aim to dramatically reduce industrial emissions in the North West of England and North Wales, thus contributing to the realisation of a green economy.
The official announcement took place in London during the “Summit on the Future of Energy Security”, on the day the accounts for the first quarter of 2025 of the oil giant. This agreement paves the way for huge investments that will kick-start the creation of a carbon dioxide supply chain and the birth of a newco dedicated to carbon, a satellite company that will valorize assets related to the capture and storage of CO₂.
The Liverpool Bay Project: Transporting CO₂ to Eni's Fields
Il Liverpool Bay CCS will be the beating heart of the HyNet Cluster, one of the world’s most ambitious carbon capture and storage projects. Carbon dioxide from key industries such as cement plants, waste recovery plants and low-carbon hydrogen plants will be transported through new and reused pipelines to be safely stored in the six-legged dog’s natural gas fields in Liverpool Bay.
The project provides for the construction of 35 km of new pipelines, which will be added to the 149 km of existing infrastructure (both onshore and offshore). This highly technological system will ensure a continuous and safe flow of CO₂, significantly contributing to reducing industrial emissions. The initial storage capacity will be 4,5 million tons per year and will grow to 10 million tons per year within the 2030.
UK to invest £21,7bn in CCS Clusters
The financial close was possible thanks to a significant investment public by the government British, Which has £21,7 billion allocated for the first two CCS clusters, including HyNet, to be deployed over 25 years. As the construction phase begins, the Liverpool Bay CCS project will have a direct impact on the local economy, generating around 2.000 new jobs during the construction phase. This helps to stimulate economic growth and promote a sustainable energy transition.
The phase of construction of the project will begin this year, with the aim of starting carbon storage operations by 2028, in line with the timeline of the industrial emitters that are part of the HyNet Cluster.
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“This investment, the result of our partnership with Eni, demonstrates how government and industry can work together to stimulate the economy, create jobs and secure a clean energy future,” said Secretary of State for Energy Security and Net Zero, Ed Milband –. We are making the UK a clean energy superpower while creating job opportunities and energy security for the future.”
For Eni's CEO, the agreement with the UK government represents a strategic milestone and a strong signal of Eni's leadership in the sector of carbon capture and storage. "The UK is a pioneer in creating a favourable regulatory environment for CCS, and thanks to this partnership, Eni is establishing itself as a leader in the activities of transport and storage of CO2", he said Descalzi. “CCS will play a crucial role in addressing the challenge of decarbonization, safely eliminating CO2 emissions from industries that currently do not have equally efficient and effective solutions. Eni confirms that it is at the forefront of creating this new highly sustainable business linked to the energy transition,” concluded the CEO of the oil giant.
