Carbon capture in Europe is facing multiple challenges with risk allocation, state backing and fragmented value chains but at the same time, there are projects that are moving ahead and potentially showing the path forward to others.
Following this year’s CCSA EU Conference in Brussels we spoke with one of the most prominent companies in the sector which has a found a private/public formula that has allowed it to develop multiple projects in different locations across the continent.
Eni CCUS Holding is positioning its carbon capture business for accelerated growth after bringing Global Infrastructure Partners (GIP) into the holding structure, a move the company says will strengthen its ability to scale projects across Europe as demand for industrial decarbonization infrastructure gathers pace.
The investment adds more than financial backing, according to an Eni CCUS Holding spokesperson, who said the partnership “strongly endorses Eni’s commitment to developing CCS initiatives” while reinforcing the company’s ambition “to be a leading global player in the sector.”
By combining Eni’s technical expertise with GIP’s infrastructure investment capabilities, the company believes it is better equipped to expand its portfolio of carbon capture and storage (CCS) projects spanning the U.K., the Netherlands and Italy.
The partnership comes as investor appetite for CCS infrastructure grows. In May, Eni CCUS Holding secured a financing facility exceeding £500 million ($664 million) from a syndicate of 13 international lenders, which the company said reflects “strong confidence that financial markets place in Eni CCUS Holding’s strategic vision and execution capabilities.”
The Netherlands Emerges as Cornerstone of Eni CCUS Holding’s European Strategy
A major focus is the Netherlands, where the company’s L10-CCS project is expected to become the country’s largest CO2 storage site. Connected to the Aramis offshore pipeline network, the project is designed to store up to 100 million tonnes of carbon dioxide in depleted North Sea gas fields, with annual injection capacity of up to 5 million tonnes beginning in 2030.
Over the next two years, priorities include securing permits, finalizing commercial agreements with industrial customers and advancing toward a final investment decision in 2027, the company representative said.
Eni CCUS Holding also says that Europe’s carbon capture ambitions will depend less on policy announcements than on projects reaching construction. “The success of Europe’s CCUS strategy will ultimately be measured by its ability to translate policy ambition into tangible investments,” the spokesperson said.
The company added that “the most important milestone to watch between now and 2030 is the pace at which Final Investment Decisions are taken across the sector,” alongside access to national and EU support mechanisms.
Cross-Border CO2 Storage Networks Seen as Key to Europe’s Net-Zero Goals
Looking beyond 2030, Eni expects cross-border cooperation to become increasingly important. While countries are likely to compete to develop storage hubs, “a more integrated, regional model will be essential to achieve scale and efficiency,” the spokesperson said, adding that closer U.K.-EU regulatory alignment could reduce costs and accelerate deployment.
By 2040, Eni CCUS Holding envisions a fully developed European CCS market supporting heavy industries including steel, cement and chemicals, while enabling low-carbon hydrogen production. Through projects such as Liverpool Bay, Bacton, Ravenna and L10-CCS, the company says it aims to become a leading provider of large-scale CO2 storage across Europe.
Read more: Eni Awards Saipem $590M Contract For Liverpool Bay CCS Development
