Eni Partners With GIP For Major CCUS Stake Deal

In a significant move underscoring the accelerating momentum in the global energy transition, Italian energy giant Eni has entered into an exclusivity agreement with Global Infrastructure Partners (GIP), an infrastructure investment firm owned by BlackRock, for the sale of a 49.99% co-control stake in Eni CCUS Holding. The deal marks a crucial milestone in Eni’s strategic plan to expand its decarbonization infrastructure while attracting long-term capital aligned with sustainability goals.

Eni CCUS Holding manages a suite of advanced Carbon Capture, Utilization, and Storage (CCUS) projects across Europe, and this transaction positions GIP as a strategic co-investor with access to a growing platform of assets central to the decarbonization of hard-to-abate industries. The agreement grants GIP nearly half ownership and operational influence in a business that is at the forefront of Europe’s CCUS sector, including projects in the United Kingdom and the Netherlands, and a future stake in a major initiative in Italy.

The agreement follows a competitive selection process involving multiple global players, highlighting the high level of investor interest in Eni’s low-carbon ventures. Under the terms of the exclusivity deal, Eni and GIP will advance confirmatory due diligence and finalize transaction documentation in the coming months. The expected outcome will see GIP taking on a co-controlling role in Eni CCUS Holding, thereby sharing operational and financial responsibilities as the portfolio scales.

Among the key assets involved in the deal are the Hynet and Bacton hubs in the UK and the L10 project in the Netherlands. These initiatives are part of Europe’s most advanced carbon storage networks and are aimed at helping reduce industrial CO₂ emissions through safe and technologically mature carbon capture and storage methods. Additionally, the agreement includes an option for GIP to invest in Eni’s Ravenna CCUS project in Italy, contingent on favorable market and regulatory developments. This expansion potential reflects both companies’ shared vision for a broader platform of carbon management infrastructure.

Eni emphasized the significance of CCUS in the global shift toward a low-carbon economy, describing it as “a mature and safe technological process” and “one of the most efficient and effective decarbonization tools to support hard-to-abate industries in reducing their emissions.” These sectors, such as cement, steel, and heavy manufacturing, are typically resistant to electrification and other forms of decarbonization, making CCUS an essential pathway to achieving net-zero targets.

Beyond the equity arrangement, GIP is expected to bring additional capital and expertise to support ongoing investments across the CCUS portfolio. This financial backing will reinforce Eni’s ability to scale up its infrastructure at pace, enabling faster deployment and broader impact. GIP’s involvement is seen not only as a source of funding but also as a strategic partnership that complements Eni’s technical capabilities with global infrastructure investment experience.

“This step represents another example of the development of Eni’s satellite model strategy,” the company stated. The satellite model is Eni’s approach to structuring and spinning out business units that can attract external capital and strategic partners, allowing for faster scaling and value creation while maintaining operational agility. By partnering with institutions like GIP, Eni is not only securing funding for its energy transition but also creating co-investment vehicles that are attractive to infrastructure-focused investors seeking exposure to the low-carbon economy.

The deal also reflects a broader industry trend where traditional energy companies are leveraging partnerships to fund next-generation energy infrastructure. As the energy transition gains momentum, companies like Eni are increasingly pivoting toward cleaner technologies while maintaining financial discipline. The involvement of GIP, backed by BlackRock’s deep capital pool and global investment footprint, underscores the growing appeal of climate-aligned infrastructure assets among institutional investors.

In parallel, this transaction aligns with Eni’s broader strategy to monetize its energy transition businesses while ensuring that the decarbonization agenda remains on a growth trajectory. The exclusivity agreement not only strengthens Eni’s position in Europe’s emerging carbon management landscape but also sets a precedent for future partnerships designed to unlock capital for sustainable growth.

As countries and companies alike push toward net-zero targets, such collaborations between industrial leaders and infrastructure investors are expected to play a pivotal role in enabling large-scale emissions reductions. With this agreement, Eni and GIP are positioning themselves at the forefront of that transformation—supporting the development of critical infrastructure that will form the backbone of a lower-carbon future.

Eni Partners With GIP For Major CCUS Stake Deal