Eni CCUS Holding secures £500m+ financing facility for CCS platform
- Eni CCUS Holding secured a financing facility of more than £500 million from 13 international lenders, with BNP Paribas as sole financial advisor.
- Liverpool Bay CCS reached financial close with the UK government in April 2025, is >30% constructed and targets operation in 2028 with initial storage of 4.5 Mt CO2/yr, scalable to 10 Mt/yr in the 2030s.
- The project will permanently store CO2 in depleted gas reservoirs under Liverpool Bay, repurposing offshore platform infrastructure and existing pipelines and building new onshore/offshore pipelines to connect regional emitters.
- The financing also supports other portfolio projects including L10-CCS (Netherlands), Bacton CCS (UK), and an option to acquire Eni's 50% stake in Ravenna CCS (Italy).
Financing
Eni CCUS Holding, partnered by Eni and Global Infrastructure Partners (GIP), secured a financing facility of more than £500 million from a syndicate of 13 international lenders with BNP Paribas as sole financial advisor; investor demand significantly exceeded the initial target.
Liverpool Bay CCS
The Liverpool Bay CCS (LBCCS) project reached financial close with the UK Government in April 2025, is over 30% constructed and targets operation in 2028; initial storage capacity is 4.5 million tonnes CO2 per year with potential to scale to 10 million tonnes annually in the 2030s. CO2 will be stored in depleted gas reservoirs beneath Liverpool Bay, using repurposed offshore platform infrastructure and existing pipelines alongside new onshore and offshore pipelines to connect industries across North West England and North Wales.
Portfolio and pipeline
The financing will also support other Eni CCUS Holding initiatives including L10‑CCS in the Netherlands and the Bacton CCS project in the UK, and preserves the option to acquire Eni’s 50% stake in Ravenna CCS (Italy); the platform may integrate additional projects over time.
Source: Eni