Eni has achieved financial close with the UK Government’s Department of Energy Security and Net Zero (DESNZ) for the Liverpool Bay Carbon Capture and Storage (CCS) project.
As operator of the CO₂ transport and storage system (T&S) for the HyNet industrial cluster, Eni’s project will unlock major supply chain investments, create around 2,000 construction jobs, and strengthen industrial employment in the region. The financial close follows the UK Government’s broader £21.7 billion investment in its first two CCS clusters over 25 years, underlining its commitment to making CCS a key element of its decarbonisation strategy.
UK Energy Secretary Ed Miliband emphasized the project’s role in building a clean energy industry, revitalizing industrial communities, and enhancing energy security. Meanwhile, Eni CEO Claudio Descalzi highlighted the importance of CCS in decarbonizing hard-to-abate industries and reinforcing the UK’s leadership in the sector.
The Liverpool Bay CCS project will serve as the backbone of the HyNet Cluster, transporting CO₂ from various industrial sources in North West England and North Wales to permanent offshore storage. It involves repurposing existing offshore platforms, upgrading 149 km of pipelines, and constructing 35 km of new pipelines.
With an initial storage capacity of 4.5 million tonnes of CO₂ per year, scalable to 10 million tonnes by the 2030s, the project is set to begin construction this year and aims to start operations in 2028.
