BlackRock's GIP Buys Stake in Eni's Carbon Capture Business

BlackRock’s Global Infrastructure Partners has entered into an agreement to acquire a 49.99% stake in Eni’s carbon capture and storage business. While the financial terms remain undisclosed, the move signals growing investor appetite for decarbonization technologies that align with long-term energy transition goals.

The Role of Eni CCUS Holding

The transaction centres on Eni CCUS Holding, a dedicated subsidiary established to oversee the company’s global carbon capture and storage portfolio. This entity already manages a series of projects under development across the United Kingdom, the Netherlands, and Italy, representing some of the most advanced European markets for large-scale CCS deployment. The portfolio positions Eni to play a central role in meeting tightening emissions reduction targets within the region.

Future Expansion Opportunities

Beyond its current pipeline, the agreement grants Eni CCUS the opportunity to participate in future initiatives linked to Eni’s depleted oil and gas fields. Once regulatory clarity and market conditions evolve, these assets could be repurposed into large-scale storage hubs, reinforcing the strategic importance of legacy infrastructure in the low-carbon transition. This dimension of the partnership underscores a pragmatic approach, leveraging existing energy assets to accelerate the development of next-generation climate solutions.

"The decision to consolidate our CCUS global portfolio into a dedicated entity, and the entry of GIP as a strategic partner, will further enhance our ability to deliver large-scale, technically advanced decarbonization solutions," Eni CEO Claudio Descalzi said.