Eni and Air Liquide, two leading European industrial giants, are teaming up to work on a carbon capture and storage program aimed at decarbonising heavy industry situated in the Mediterranean region.
Air Liquide is a global leader in industrial gases, while Eni (NYSE:E) is the largest Italian oil and gas producer.
The partnership is part of the “Green Deal” initiative that provides a framework for Europe’s energy transition through reducing carbon emissions and adoption of renewable energy sources.
The specific technology Air Liquide will contribute with is called CryoCAP, while Eni will lend its experience in managing gas fields.
CryoCAP captures CO2 by utilising cryogenics for separating, purifying and compressing CO2 either for further use or storage.
Commenting on the announcement Luigi Ciarrocchi, Director, Carbon Capture Utilization and Storage, Forestry and Agro-Feedstock at Eni, said: “CCS is pivotal in the decarbonisation process, in particular for the most energy and carbon-intensive industrial sectors.”
Carbon neutrality is a key component in the European Union’s Green Deal. The European Commission’s targets for CO2 emission reduction are quite ambitious – 55% by 2030 and net zero by 2050.
Financing for the program is provided by the NextGenerationEU Recovery Plan and the bloc’s seven-year budget. The plan has more than €800 billion at its disposal and acts as a temporary recovery instrument to help repair the immediate economic and social damage brought about by the coronavirus pandemic.
Air Liquide has been active on several fronts when it comes to renewable energy and carbon capture.
In September 2021 the company announced a partnership with Total to develop carbon capture and green hydrogen. This was followed by the start of a partnership with BASF (again for carbon capture) which won EU funding.