What is the significance of the $670 million financing for EniCCUS, and which specific CCS projects does it support?

The $670 million financing—provided by a syndicate of 13 international banks—is dedicated to building and expanding EniCCUS’s carbon capture, utilization, and storage (CCUS) project platform. It directly supports three key projects: the Liverpool Bay CCS project in the UK’s HyNet cluster (currently under construction with over 30% of work completed and targeting 4.5 Mt CO₂/year capacity by 2028, scaling to 10 Mt/year by the 2030s), the L10-CCS project in the Netherlands, and the Bacton CCS project in the UK. This capital enables EniCCUS to advance its cross-border CCUS asset portfolio across the North Sea and Mediterranean regions.

How does the Liverpool Bay CCS project leverage existing infrastructure, and what is its current status and timeline?

The Liverpool Bay CCS project utilizes depleted gas reservoirs beneath the Liverpool Bay seabed for CO₂ storage and repurposes existing offshore and onshore infrastructure while adding new pipelines. As of the announcement, the project completed financing closure with the UK government in April 2025 and is now in full construction phase, with more than 30% of construction tasks finished; it is scheduled to begin operations in 2028 with an initial annual storage capacity of 4.5 million tonnes of CO₂, rising to 10 million tonnes per year by the 2030s.

Eni Accelerates UK, Netherlands, and Italy CCS Projects

Jun 2, 2026

Eni's CCUS holding company secured over $670 million in financing to expand carbon capture and storage projects across the UK and Netherlands. The initiative aims to establish a leading cross-border carbon transport and storage network in Europe by 2030.

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