Eni and Snam signed an agreement to jointly develop and manage Phase 1 of the Ravenna Carbon Capture and Storage (CCS) Project, through an equal joint venture.
The agreement also includes the implementation of studies and preparatory activities for the subsequent development phases.
Phase 1 of the Ravenna CCS Project covers the capture of 25,000 tons of CO2 emitted from Eni’s natural gas treatment plant in Casalborsetti (Ravenna). Once captured, the CO2 will be piped to the Porto Corsini Mare Ovest platform and injected into the homonymous depleted gas field in Ravenna’s offshore.
The project represents a fundamental step to respond to the decarbonisation needs of steel mills, cement plants, ceramics and chemical industries and more generally of the “hard-to-abate” industry through an immediately available, highly efficient and effective technological process, which makes it possible to exploit the infrastructures and skills already present in the area.
The important role of CCS in climate change mitigation strategies is reflected in the analyses of the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA), which in their latest reports confirm CO2 capture, utilisation and storage as one of the “must-have” solutions for achieving climate goals.
CCS is complementary to renewables, to energy efficiency solutions and to the other available levers, and is central to avoiding CO2 emissions from highly energy-intensive sectors that currently have no technological alternatives for decarbonisation
Eni CEO Claudio Descalzi commented.
Furthermore, Snam CEO Stefano Venier, added that “this joint venture sets the first initiative in Italy with the ambition to offer a solution to the entire hard-to-abate production cluster in the Po Valley, and potentially also to other Italian regions as well as other countries bordering the Mediterranean basin.”
Recently, K LINE and Northern Lights signed Bare Boat Charter and Time Charter contracts for two 7,500 m3 liquefied CO2 ships. The ships will be delivered in 2024 and will contribute to the world’s first full-scale carbon capture and storage (CCS) value chain.
