Eni applies to UK CCS funding plan

Italian energy company Eni said July 9 its expression of interest in the first phase of a development fund for UK carbon capture and storage (CCS) was part of its own energy transition efforts.

The UK arm of the company applied for a government tender process to tap into funds for the development of CCS projects.

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“In the event of its successful bid, Eni UK and its partners will gain access to the Carbon Capture Storage Infrastructure Fund (CCSFI), with non-repayable financial support of £1bn (US$1.37bn) for the realisation of four projects for the capture and storage of around 10mn (metric) tons of CO₂ by 2030,” the company said.

The fund is part of a £12bn investment plan offered by the UK government in November 2020, part of its broader effort to move further down the energy transition pathway. The Italian company too said that its interest in the UK’s CCS plans is part of its own energy transition.

Eni is part of a consortium developing the HyNet project, which will be among the first CCS facilities in the UK when operations begin in 2025. The UK division of Eni said it would have a “fundamental role” in that project through the transportation and storage of CO₂.

Eni has a CO₂ storage appraisal licence that would use its fields in Liverpool Bay and earlier this year it founded Liverpool Bay CCS in readiness to operate transport and storage.