Eni has reached financial close with the UK Government’s Department of Energy Security and Net Zero (DESNZ) for the Liverpool Bay CCS project, where Eni is the operator…
Eni has reached financial close with the UK Government’s Department of Energy Security and Net Zero (DESNZ) for the Liverpool Bay CCS project, where Eni is the operator of the CO2 transport and storage system (T&S) of the HyNet industrial Cluster.
The financial close allows the Liverpool Bay CCS project to move into the construction phase, unlocking key investments in supply chain contracts, the majority of which will be spent locally.
The project will support the U.K.’s industrial competitiveness for the long term, by safeguarding existing industrial employment and creating new production chains and jobs – which, in the construction phase alone, are estimated to be about 2,000 people.
This significant milestone follows the UK Government’s funding allocation of $28.9 billion (£21.7 billion) to be invested over a 25-year period across the first two CCS Clusters in the country.
The Liverpool Bay CCS project will operate as the backbone of the HyNet Cluster to transport carbon dioxide from capture plants across the North West of England and North Wales through new and repurposed infrastructure to safe and permanent storage in Eni’s depleted natural gas reservoirs, located under
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