Eni gets UK government backing for Liverpool Bay CO2 project
Oct. 4, 2024
The UK government has confirmed funding for the granting of an economic license for Eni’s Liverpool Bay CO2 transport and storage project offshore northwest England and north Wales.
The UK government has confirmed funding for the granting of an economic license for Eni’s Liverpool Bay CO2 transport and storage project offshore northwest England and north Wales.
The arrangement, which includes investment for Track 1 industrial emitters, represents a major milestone toward the execution phase of the HyNet Carbon Capture and Storage (CCS) project.
This is designed to cut emissions from industries in the region. In the first phase, it will have a planned storage capacity of 4.5 MM metric tons/year of CO2, increasing to 10 MMt/year of CO2 after 2030, reusing the depleted reservoirs operated by Eni in Liverpool Bay.
Eni CEO Claudio Descalzi said, “HyNet will become one of the first low-carbon clusters in the world, and the project will decarbonize one of the key energy-intensive industrial districts as well as unlock significant economic growth in this region of the UK.”
In the southern North Sea, Eni is also involved in the Bacton Thames Net Zero project, focused on decarbonization of southeast England and the Thames region.
