Global Infrastructure Partners Secures Co-Control Stake in Eni’s CCUS Platform
Global Infrastructure Partners (GIP), the BlackRock-owned investment manager, has struck a deal to acquire a 49.99% share in Eni CCUS Holding, granting it co-control of one of Europe’s most ambitious carbon capture and storage platforms. The transaction underscores Eni’s strategy of scaling its energy transition businesses by bringing in capital partners while retaining operational leadership.
Eni CCUS encompasses a series of flagship projects across Europe. These include the Liverpool Bay and Bacton schemes in the UK, the L10 project in the Netherlands, and Italy’s Ravenna initiative with Snam. The platform is designed to expand further, potentially utilising depleted oil and gas fields once regulatory and market frameworks are in place.
Eni’s Chief Executive, Claudio Descalzi, described the platform as a cornerstone of the company’s decarbonisation plan, noting that GIP’s involvement will enhance its ability to deliver large-scale projects.
Bayo Ogunlesi, GIP’s Chairman and CEO, said the partnership would combine GIP’s infrastructure expertise with Eni’s operational capabilities, accelerating the roll-out of carbon capture solutions “at meaningful scale.”
The sale reflects a broader approach by Eni to spin off energy transition ventures into satellite entities, then sell minority stakes to investors in order to fund expansion. This allows the company to continue investing in oil and gas while advancing low-carbon businesses. GIP’s entry follows months of negotiations and multiple expressions of interest earlier in the year.
Carbon capture and storage is viewed by policymakers as critical for decarbonising hard-to-abate industries such as steel, cement and chemicals. The International Energy Agency describes the technology as both proven and scalable, though questions remain over its long-term economics and its potential to prolong fossil fuel dependence.
GIP has framed the energy transition as a once-in-a-generation investment opportunity, estimating that more than US $100 trillion will be needed globally. The firm views CCUS as central to this shift, placing Eni’s platform at the heart of its clean-energy investment strategy.
