Eni has reached financial close with the UK Government’s Department of Energy Security and Net Zero (DESNZ) for the Liverpool Bay CCS (carbon capture and storage) project.
With this development, the project can move into the construction phase, catalysing investment in local supply chain contracts.
The company is the operator of the CO鈧� transport and storage system (T&S) for the HyNet Industrial Cluster.
The Liverpool Bay CCS initiative is expected to bolster the UK’s industrial competitiveness, preserve existing industrial jobs and generate new employment opportunities.
An estimated 2,000 individuals are expected to be engaged during the construction phase alone.
Eni CEO Claudio Descalzi said: 鈥淭he strategic agreement with the UK Government paves the way for the industrial-scale development of CCS, a sector in which the United Kingdom reaffirms its leadership thanks to the promotion of a regulatory framework that aims to strengthen the development of CCS and make it fully competitive in the market.鈥�
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By GlobalDataThis development aligns with the UK Government’s recent allocation of 拢21.7bn ($28.8bn) over 25 years for the nation’s first two CCS Clusters.
UK Secretary of State for Energy Security and Net Zero Ed Miliband said: 鈥淭oday we keep our promise to launch a whole new clean energy industry for our country 鈥� carbon capture and storage 鈥� to deliver thousands of highly skilled jobs and revitalise our industrial communities.
鈥淭his investment from our partnership with Eni is government working together with industry to kick-start growth and back engineers, welders and electricians through our mission to become a clean energy superpower. We are making the UK energy secure so we can protect families and businesses and drive jobs through our Plan for Change.鈥�
The Liverpool Bay CCS project will serve as the linchpin of the HyNet Cluster, channelling CO鈧� from various capture sites across north-west England and north Wales to Eni’s depleted gas reservoirs beneath Liverpool Bay’s seabed for secure, permanent storage.
The project entails the strategic repurposing of offshore platforms and 149km of existing pipelines, complemented by the construction of 35km of new pipelines to link industrial CO鈧� emitters to the Liverpool Bay CCS network.
Reputed to be one of the most advanced CCS clusters globally, HyNet is expected to play a crucial role in reducing emissions from diverse industries including cement production, energy from waste facilities and low-carbon hydrogen generation, among others.
With an initial storage capacity of 4.5 million tonnes per annum (mtpa) of CO鈧�, scalable to 10mtpa in the 2030s, Eni’s T&S system is set to significantly contribute to the UK’s CCS objectives.
The start of construction is scheduled for this year, with the project’s operational launch targeted for 2028, synchronised with the HyNet Cluster’s industrial emitters.
